Crypto traders bet $2.4M on spot Ether ETF decision

Only 19% of gamblers betting on the outcome of a decision on whether to approve or deny spot Ether ETFs by the U.S. SEC are putting their money on a positive result by the May deadline.

Crypto gamblers are placing bets on whether spot Ether exchange-traded funds (ETFs) will be approved by the United States Securities and Exchange Commission (SEC) before May 31.

Polygon-based crypto gambling site Polymarket shows that traders have placed “Yes” or “No” bets on whether a spot Ether (ETH) ETF application will be approved before May ends.

Over $2.4 million worth of bets have been placed, with about 81% pessimistic about the chances of a spot Ether ETF approval before the deadline.

Read more