Ether (ETH) Surges 17%, Polymarket Approval Chances Rocket, as ETF Makes Regulatory Progress

as favorable regulatory developments increase the chance that an ether exchange traded fund will soon be approved, a measure of the performance of the market's largest digital assets, is up almost 8%.had make abrupt progress in the approval of a Ether ETF by asking exchanges to update 19b-4 filings for ether ETFs.

The SEC asking exchanges to update 19b-4 filings, which propose rule changes, suggests potential progress toward spot Ether ETF approvals. Despite the progress with 19b-4 filings, the SEC could still reject the S-1 registration statement of the ether ETF, delaying its approval and trading commencement.

As a result of this significant development, the ether implied volatility curve, which shows market expectations of future volatility across different strike prices and expirations, flattened as 25-delta risk reversals hit YTD highs above 18%, and traders heavily bought $4000 calls for 24 May 2024 and 31 May, Presto Research analysts wrote in a note shared with CoinDesk.

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