TechFlow news: After the SEC announced this morning the approval of 19b-4 applications for multiple spot Ethereum ETFs, the Polymarket prediction market resolved the bet on "whether a spot Ethereum ETF will be approved before May 31" to YES, sparking controversy within the community.
The prize pool for this Polymarket bet reached as high as $13 million. Users who backed NO argue that this outcome is incorrect, stating that a U.S. ETF must obtain approval for both the 19b-4 application and the S-1 form before trading can begin on exchanges, and without S-1 approval, a YES outcome is impossible.
Analysts indicate that the U.S. Securities and Exchange Commission may still require several months to approve the S-1 filings, and some NO supporters may have placed their bets based on this expectation.
