According to BlockBeats, on May 15, The Block reported that Ethereum options traders are preparing for month-end volatility as the U.S. Securities and Exchange Commission (SEC) is very likely not to approve two spot Ethereum ETF applications. Wintermute OTC trader Jake Ostrovskis said that the market currently believes that the probability of these ETFs being approved by the end of May is only 16%. The implied volatility of Ethereum options may rise at the end of the month, especially when the SEC is expected to make a decision on the spot Ethereum ETF. BlockBeats Note: The SEC's deadline is May 23 and May 24 to decide whether to approve the spot Ethereum ETF applications submitted by VanEck and ArkInvest/21 Shares, respectively.