Ethereum bounces back from dip, Gensler refuses to comment on SEC's decision on ETH ETFs

Ethereum ETFs will likely be approved as US lawmakers have urged SEC Chair to give the green light. SEC Chair refused to comment when asked to give a preview on spot ETH ETF decision on Thursday. Ethereum may rally more than Bitcoin did if SEC approves spot ETH ETF applications. Ethereum bounced back after a brief dip on Thursday as US lawmakers penned a letter to Securities & Exchange Commission Chair Gary Gensler, urging him to approve spot ETH ETFs.

Meanwhile, despite Ethereum's popularity and price growth in the past few days, Hong Kong's spot Ethereum ETFs haven't risen in subscriptions or trading volume. On May 22, the single-day net subscription was 62.8 ETH, and the total single-day transaction volume was only $390,300, according to data from SoSoValue. According to Tree News, the Hong Kong Securities & Futures Commission is in talks to allow issuers to provide staking features for investors.

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