ETH surged to over $3,800, driven by favorable regulatory developments. BlackRock has amended its S-1 form for the proposed spot ETH ETF, revealing that a "Seed Capital Investor" has purchased 400,000 initial shares at $25 per share, totaling $10 million. Bloomberg analyst Eric Balchunas sees this update as a positive sign, suggesting a launch by the end of June is a legitimate possibility. This move follows the SEC approval for listing several ETH ETFs, enhancing bullish sentiment in the crypto market. This comes on the heels of BlackRock's success with its bitcoin ETF, which recently became the largest publicly traded bitcoin fund, surpassing Grayscale with nearly $20 billion in assets under management. 

According to JPMorgan, spot ETH ETFs are expected to attract significantly less demand than BTC ETFs. The bank predicts that ETH spot ETFs could see net inflows of up to $3 billion this year, potentially rising to $6 billion if staking is permitted. Bitcoin's first mover advantage, including its established presence and broader appeal as a competitor to gold, is cited as a primary reason for this disparity. Additionally, Bitcoin's recent reward halving provided a demand catalyst that ETH lacks. The report also highlights that ETH ETFs will be less attractive due to lower liquidity, AUM, and the absence of staking yields, making them less appealing to institutional investors. The initial market reaction to the launch of ETH ETFs might be negative, as speculative investors in the Grayscale Ethereum Trust (ETHE) may sell off, potentially causing $1 billion in outflows and exerting downward pressure on ETH prices. 

Standard Chartered analyst Geoffrey Kendric has indicated that SOL and Ripple’s XRP could be potential candidates for spot ETF by 2025. This speculation follows the recent progress towards the approval of a spot ETH ETF by the SEC. The developments have sparked discussions about which cryptocurrencies might be next in line for ETF status. Solana, being the third-largest cryptocurrency by market cap after Bitcoin and Ether, is seen as a strong contender for a future ETF, with industry experts drawing parallels between Solana and Ethereum's path towards commodity classification. 

BlackRock’s spot BTC ETF, IBIT, has overtaken Grayscale’s GBTC to become the largest spot bitcoin ETF in the U.S. IBIT now holds nearly $20 billion worth of bitcoin, compared to GBTC’s $19.7 billion. Since January, IBIT has attracted $16.5 billion, while Grayscale’s fund has experienced $17 billion in withdrawals. BlackRock has incorporated IBIT into its income and bond-focused funds, with the Strategic Income Opportunities Fund holding over $3.5 million worth of IBIT. This surge in interest is attributed to positive market sentiment and recent regulatory advancements, including the listing approval for ETH ETFs. As a result, U.S.-listed spot bitcoin ETFs now collectively hold over 850,000 BTC, marking a new record. 

The TRUMP token experienced a significant drop of 35% following a New York jury's verdict finding former U.S. President Donald Trump guilty on all 34 counts of falsifying business records, marking him as the first U.S. president convicted of a felony. In contrast, the Jeo Boden meme coin, inspired by President Joe Biden, surged by 20% in the aftermath. Despite the guilty verdict, traders on the blockchain-powered prediction market Polymarket still anticipate Trump defeating Biden in the upcoming November election, with Trump holding a 56% chance of winning compared to Biden's 38%.