Close Menu
  • Coins
    • Bitcoin
    • Ethereum
    • Altcoins
    • NFT
  • Blockchain
  • DeFi
  • Metaverse
  • Regulation
  • Other
    • Exchanges
    • ICO
    • GameFi
    • Mining
    • Legal
  • MarketCap
What's Hot

German firms split on the future of crypto payments.

17/07/2025

IOTA Closes Q2 With Layer 1 Rebase and Global Trade Breakthrough via TwinOrg Launch

17/07/2025

Jury Seated for Tornado Cash Dev Roman Storm’s Trial

17/07/2025
Facebook X (Twitter) Instagram
  • Back to NBTC homepage
  • Privacy Policy
  • Contact
X (Twitter) Telegram Facebook LinkedIn RSS
NBTC News
  • Coins
    1. Bitcoin
    2. Ethereum
    3. Altcoins
    4. NFT
    5. View All

    Bitcoin on a Confirmed Breakout After Hitting New All-Time High, Says Analyst Kevin Svenson – Here’s His Outlook

    17/07/2025

    Crypto Analyst Puts Bitcoin Price At $120,000 If This Range Breakout Happens

    17/07/2025

    Bitcoin Options Open Interest Spikes to Record High as Traders Target $116K

    17/07/2025

    H100 Group Became The First Publicly Listed Bitcoin Treasury Company In Sweden

    17/07/2025

    SharpLink redraws Ethereum playbook with $213m buy and yield-led treasury shift

    17/07/2025

    Why ‘ETH Is Going to $10,000,’ Explains EMJ Capital Founder and President

    17/07/2025

    Ethereum’s MicroStrategy Announced! Massive Company Makes Another Large Purchase, Surpassing the Ethereum Foundation! Becomes Largest Institutional ETH Holder!

    17/07/2025

    Ethereum Pulls off Major Rebound Against Bitcoin, What’s Happening?

    17/07/2025

    IOTA Closes Q2 With Layer 1 Rebase and Global Trade Breakthrough via TwinOrg Launch

    17/07/2025

    XRP ETF Approval Odds Near 100%—Could This Be the Catalyst for a $5 Price Explosion?

    17/07/2025

    Chainlink (LINK) and VeChain (VET) Enjoy Millions of Interactions in RWA Ecosystem—Will Hype Translate to Price Gains?

    17/07/2025

    Cardano Creator Ends Speculation of Government Control Over Him

    17/07/2025

    CryptoPunks Dominate Top Weekly NFT Sales amid Overall Market Sales Volume Surges 34.19% to $133.66 Million

    14/07/2025

    Volume Plunges While Transactions Soar

    11/07/2025

    Snoop Dogg’s TON NFT Launch Could Signal New Narrative for NFT Market

    10/07/2025

    Snoop Dogg’s Telegram NFT Drop Sold Out in Half an Hour

    10/07/2025

    German firms split on the future of crypto payments.

    17/07/2025

    IOTA Closes Q2 With Layer 1 Rebase and Global Trade Breakthrough via TwinOrg Launch

    17/07/2025

    Jury Seated for Tornado Cash Dev Roman Storm’s Trial

    17/07/2025

    Bitcoin on a Confirmed Breakout After Hitting New All-Time High, Says Analyst Kevin Svenson – Here’s His Outlook

    17/07/2025
  • Blockchain

    Zypher Network Partners with HeLa Labs to Boost AI-Powered Blockchain Innovation

    16/07/2025

    Endless Protocol Partners with Arichain to Bridge Fragmented Blockchain Liquidity

    16/07/2025

    Chainlink, Swift & GLEIF Launch vLEI Hackathon to Advance On-Chain Compliance

    16/07/2025

    ChainGPT Launchpad Integrates Kima Network to Revolutionize Cross-Chain Stablecoin Swaps

    16/07/2025

    L2s should maximize the use of L1 security tools

    16/07/2025
  • DeFi

    Bitlayer’s BitVM Bridge Revolutionizes BTC Integration

    17/07/2025

    Ushering In a New Era on Solana

    17/07/2025

    Why Capital Is Moving from 4.3% US Treasuries to DeFi’s 22% Stablecoin Yields

    17/07/2025

    If DeFi Had This in 2022, Maybe It Wouldn’t Have Collapsed

    17/07/2025

    The New Gold Rush Is… Stablecoins?

    17/07/2025
  • Metaverse

    Elon Musk’s xAI Quietly Fixed Grok by Deleting a Line of Code

    09/07/2025

    Bonk.fun Grabs 55% of Solana Token Issuance Share, Pushes BONK Demand

    08/07/2025

    Apple’s Top AI Exec Leaves For Meta Amid Aggressive Hiring Trend

    08/07/2025

    Automobili Lamborghini Unveils Digital Temerario and GT3 NFTs in Wilder World

    07/07/2025

    Microsoft’s AI Diagnoses Like House, Bills Like Costco

    02/07/2025
  • Regulation

    German firms split on the future of crypto payments.

    17/07/2025

    UK Crypto Platform Unravels Amid Financial Distress

    17/07/2025

    Ripple CEO Brad Garlinghouse Says “Stablecoin Market Will Hit $2 Trillion”

    17/07/2025

    Justin Sun takes on Elon Musk in race to be Trump’s top donor

    17/07/2025

    Avalanche-Powered Insomnia Labs Secures Pivotal $12M to Empower Digital Creators

    17/07/2025
  • Other
    1. Exchanges
    2. ICO
    3. GameFi
    4. Mining
    5. Legal
    6. View All

    Coinbase denies allegations that it is the source for the Bloomberg story on Binance and World Liberty Financial

    16/07/2025

    India’s FIU Intensifies Probe into Binance, WazirX Amid Cross-Border Crypto Terror Concerns

    16/07/2025

    Bitcoin Exchange OKX Announces Delisting of Three Altcoin Trading Pairs from Futures Trading! Details Here

    16/07/2025

    A Look at the 6 Exchanges That Will List the PUMP Token for Trading

    16/07/2025

    ICO for bitcoin yield farming chain Corn screams we’re so back

    22/01/2025

    Why 2025 Will See the Comeback of the ICO

    26/12/2024

    GaFin Joins Efforts with Helium Wars to Redefine the Future of Web3 Gaming

    16/07/2025

    Crypto games are struggling in 2025, but big brands aren’t giving up

    15/07/2025

    R-Games and LoveBit Unite to Power ESG-Driven Web3 Gaming

    15/07/2025

    Elon Musk’s xAI Launches Waifu Companions for Grok

    15/07/2025

    U.S.-Listed Bitcoin Miners Reach New Peak Share of Global Hashrate

    17/07/2025

    French lawmakers say country could generate $150M in annual revenue from Bitcoin mining

    17/07/2025

    Bitcoin Mempool Emptiness Sparks Network Security Concerns

    16/07/2025

    All-Time High Mining Difficulty, Quiet Google Trends—Is This the ‘Mature’ Bitcoin Bull Market?

    15/07/2025

    Jury Seated for Tornado Cash Dev Roman Storm’s Trial

    17/07/2025

    EU Anti-Money Laundering Authority Warns Crypto Firms of New Regulations

    17/07/2025

    ‘Bitcoin Jesus’ Roger Ver Sues Spain to Block Extradition Over US Tax Charges: Bloomberg

    17/07/2025

    Day 2 of Roman Storm Trial

    17/07/2025

    German firms split on the future of crypto payments.

    17/07/2025

    IOTA Closes Q2 With Layer 1 Rebase and Global Trade Breakthrough via TwinOrg Launch

    17/07/2025

    Jury Seated for Tornado Cash Dev Roman Storm’s Trial

    17/07/2025

    Bitcoin on a Confirmed Breakout After Hitting New All-Time High, Says Analyst Kevin Svenson – Here’s His Outlook

    17/07/2025
  • MarketCap
NBTC News
Home»Ethereum»Ethereum ETFs Approved by the SEC? Yes—But Don’t Bet On It
Ethereum

Ethereum ETFs Approved by the SEC? Yes—But Don’t Bet On It

NBTCBy NBTC31/05/2024No Comments5 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email


Now that the U.S. Securities and Exchange Commission has approved eight spot Ethereum ETFs, the next crypto battle is brewing on what “approved” actually means.

That was the debate raging on Polymarkets, at least, after crypto degens bet over $13 million that the SEC would approve a spot Ethereum ETF by March 31.

The open wager went live on January 9 as anticipation of the SEC approval for the first Bitcoin ETFs reached a fever pitch. The fundamental question driving any potential Ethereum ETF approval was whether Ethereum is a security or a commodity—and whether Bitcoin had cleared the path for Ethereum to follow.

Financial analysts and crypto commentators regularly weighed in with their predictions, which grew increasingly pessimistic amid aggressive moves by the SEC against other crypto projects. As a May deadline solidified for a decision, some proposed that a delay would actually be a good thing. Last month, JP Morgan put the odds of approval at 50%.

Polymarket users bet on the question, “Ethereum ETF approved by May 31?” Image: Polymarket

But last week, the mood started to shift: Coinbase opined that an Ethereum ETF would become reality last week, and when two Bloomberg ETF analysts revised their own odds of approval from 25% to 75% on Monday, the price of ETH started to soar.

Polymarket bettors were also watching closely. The collective odds of SEC approval shot up from 13% to over 50% on the site on Monday. When the SEC announced Thursday that it was approving applications for spot Ethereum ETFs, optimistic wagerers were jubilant. Surely the answer to whether an Ethereum ETF would be approved before May 31 was “yes”?

The dispute brewing on the @polymarket “Ethereum ETF approved by May 31?”reminds me of the 2018 dispute on the Augur market “Which party will control the House after 2018 U.S. mid-term election?”

In both cases, there was the spirit of the market aka the way that the average…

— Nick Tomaino (@NTmoney) May 23, 2024

Not so fast, many argued.

“Too bad they didn’t define the terms of the actual bet, there was $11M at play,” Twitter user Observoor wrote. “I checked this afternoon and thought, ‘This doesn’t even define what ETF approval means…it’ll end in a big fight.’”

Technically, the SEC had approved rule changes allowing major investment firms like Grayscale, BlackRock, Fidelity, and VanEck to proceed with submitted and amended plans to offer spot Ethereum ETFs. But those specific funds have not yet been approved, a process that could take more than a week—and push past the May 31 Polymarket deadline.

Going to add here. Typically this process takes months. Like up to 5 months in some examples but @EricBalchunas and I think this will be at least somewhat accelerated. #Bitcoin ETFs were at least 90 days. Will know more soon.

— James Seyffart (@JSeyff) May 23, 2024

With some calling the bet “rigged,” nearly 1,000 comments were posted to the event page.

“Let’s be real: lots of people got overconfident that the SEC would deny and are now crying foul that the SEC did a U-turn and rugged them,” a Polymarket user wrote. “ETH ETF approved… [by] consensus of credible reporting.”

“The best resolution would be to make it a 50/50 split and clarify that the rules were not sufficient to select a clear winner,” another Polymarket user proposed.

On the other hand, the wording of the SEC decision was clear: “This order approves the proposals on an accelerated basis.”

“For all you who have no shares and are salty: bring the rules of the market and polymarket’s resolution to ANY SAT/GMAT verbal professor and see what they say. Hint: everyone will agree with Polymarket because it’s basic reading comprehension,” a Polymarket user wrote.

Polymarket users were given a chance to dispute the outcome of the bet, but by 8:18 p.m. ET, the yes vote had been solidified. For many, the simplest answer was always the best answer.

“I’m just an investor in Polymarket and general prediction market lover, so have zero impact here on final resolution,” Polymarket investor Nick Tomaino wrote on Twitter. “But in my opinion, for a prediction market platform to succeed long-term it’s important to resolve according to the spirit of the market. Otherwise, the masses won’t trust it.”

With the big bet settled, the broader crypto market simply carried on. The price of Ethereum barely budged upon news of the approvals, although it is up nearly 30 perccent for the week, spiking to $3,937 intraday and trading at $3,819 as of this writing.

Launched in 2020, Polymarket is a blockchain-based prediction market platform that allows users to stake tokens and earn on the outcome of current events like elections, sports, and current events. Earlier this month, Polymarket announced raising $70 million with funding participants, including Ethereum co-founder Vitalik Buterin.

Edited by Ryan Ozawa.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
NBTC

Related Posts

SharpLink redraws Ethereum playbook with $213m buy and yield-led treasury shift

17/07/2025

Why ‘ETH Is Going to $10,000,’ Explains EMJ Capital Founder and President

17/07/2025

Ethereum’s MicroStrategy Announced! Massive Company Makes Another Large Purchase, Surpassing the Ethereum Foundation! Becomes Largest Institutional ETH Holder!

17/07/2025

Ethereum Pulls off Major Rebound Against Bitcoin, What’s Happening?

17/07/2025
Add A Comment

Comments are closed.

Top Posts
Get Informed

Subscribe to Updates

Get the latest news from NBTC regarding crypto, blockchains and web3 related topics.

Your source for the serious news. This website is crafted specifically to for crazy and hot cryptonews. Visit our main page for more tons of news.

We're social. Connect with us:

Facebook X (Twitter) LinkedIn RSS
Top Insights

German firms split on the future of crypto payments.

17/07/2025

IOTA Closes Q2 With Layer 1 Rebase and Global Trade Breakthrough via TwinOrg Launch

17/07/2025

Jury Seated for Tornado Cash Dev Roman Storm’s Trial

17/07/2025
Get Informed

Subscribe to Updates

Get the latest news from NBTC regarding crypto, blockchains and web3 related topics.

Type above and press Enter to search. Press Esc to cancel.