Recent developments have shown significant progress in the approval process for Ether ETF applications after the US Securities and Exchange Commission (SEC) requested updates to the 19b-4 application materials on May 20th. This move increased the likelihood of approval from 25% to 75%, signaling a substantial increase in the possibility of an ETF listing. On May 23rd, the SEC officially approved the application for an exchange-traded Ether ETF, clearing major hurdles for its launch. The anticipation of the ETF's listing led to a rapid increase of 500,000 open interest contracts in Ether, resulting in a surge from $8.8 billion in Ether futures open interest to $13 billion, and an increase in the price of Ether from $3,065 to a high of $3,959. However, market experts note that such scenarios are not uncommon in the history of cryptocurrencies, with similar situations following the listing of Bitcoin futures, Coinbase, and Bitcoin ETFs based on both futures and spot markets. Consequently, market analysts expect a correction phenomenon to occur in the short term following the imminent listing of the Ether spot ETF.