Following reports that the SEC might greenlight spot Ethereum ETFs, some memecoins have seen significant gains, with some increasing in value by up to 30%.

In the past 24 hours, Pepe has risen by 24.36%, LADYS by 21.54%, and Dogecoin (DOGE) by 4.05%.

According to CoinGecko data, Ethereum itself has appreciated by 2.6% during the same period and has gained 29.4% over the past week.

Whether the SEC will approve Ethereum ETFs remains uncertain. The commission is expected to make a decision on VanEck’s application by May 23.

The updates to the spot Ethereum ETF filings by issuers and exchanges have sparked optimism in the market.

For the latest updates and in-depth analysis, stay tuned to our financial news coverage.

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