Foreign media: The key vote for the approval of the Ethereum spot ETF may come from Gary Gensler

ChainCatcher news, according to Cointelegraph, based on previous historical experience, the fate of the Ethereum spot ETF may be decided this week by a vote from U.S. SEC Chairman Gary Gensler.

In January of this year, the approval of the Bitcoin spot ETF was handled by a small group of five commissioners. Two crypto-friendly commissioners, Hester Pierce and Mark Uyeda, voted in favor of the ETF, while commissioners Caroline Crenshaw and Jaime Lizárraga voted against it. Gensler ultimately also voted in favor, and many industry insiders believe his vote ultimately ensured the approval of the spot Bitcoin ETF. The ETF was approved on January 10, 2024, with a vote of 3 to 2.

This week, the same five SEC commissioners will vote on May 23 to approve or deny VanEck's Ethereum spot ETF.