Hao Yang, Director of Financial Products at Bybit: The market still underestimates the potential of Ethereum

Regarding the issue of "the US SEC requires ETH spot ETF applicants to update their application materials and Ethereum becomes a hot spot in the market", Hao Yang, director of Bybit's financial products, said that even if the SEC delays or rejects this batch of applications (the first deadline is May 23), the ETH spot ETF will eventually be approved. Judging from BlackRock's application alone, regulators may make certain concessions to Wall Street giants, rather than repeating the mistakes of the BTC spot ETF "court battle". Because the ETH futures ETF was approved as early as 2021, there is no reason for the spot ETF to be rejected. In addition, in terms of politics, most young voters tend to support a more cryptocurrency-friendly regulatory environment. Hao Yang further stated, “ETH remains the most decentralized, tested, and technically brilliant work ever created. Hopefully, Ethereum will be properly valued, especially considering that Ethereum blockchain is expected to generate more than $4 billion in revenue this year, driven by rising demand for NFTs and decentralized financial services. In contrast, Ethereum and Solana show different use cases: Solana is chosen by more retail investors for high-speed, low-cost transactions, while institutional investors still choose Ethereum. ETH is the first choice for funding giants, institutional funds, and art collectors. But the two can prosper together.”