PANews reported on May 20 that the fate of the spot Ethereum ETF might be decided by a single vote from SEC Chairman Gary Gensler—if history is any indication.

In January this year, the approval of the spot Bitcoin ETF fell into the hands of a committee of five commissioners. Two crypto-friendly commissioners, Hester Pierce and Mark Uyeda, voted in favor of approving the ETF, while commissioners Caroline Crenshaw and Jaime Lizárraga voted against it. Gensler also voted in favor, leading many to believe that his vote ultimately ensured the approval of the spot Bitcoin ETF, which was approved on January 10, 2024, with a 3-2 vote.

This week, the same five SEC commissioners will vote on VanEck's spot Ethereum ETF on May 23 to decide whether to approve or reject it.