The U.S. Securities and Exchange Commission (SEC) has approved the first Ethereum (ETH) spot Exchange-Traded Fund (ETF), leading to significant market excitement and bullish sentiment among investors. This approval, which is expected to result in massive Wall Street inflows, marks a pivotal moment for the Ethereum ecosystem. The SEC has accelerated the approval process, with S-1 amendments due by Friday, influenced by political factors and liquidity considerations. The approval has already caused Ethereum's price to skyrocket since May 20th, driven by high positive sentiments among crypto enthusiasts. Major financial institutions are expected to start buying ETH in large quantities, further driving up its price. However, some analysts, including JPMorgan, suggest that demand for Ether spot ETFs may be lower compared to Bitcoin versions. Despite this, the overall sentiment remains highly positive, with expectations that the ETFs will start trading earlier than anticipated in June. Additionally, uncertainty about potential Mt. Gox BTC supply and large buyers of 4k/5k ETH Call Spreads for end of June 2024 are influencing market dynamics.