Bitcoin and Ethereum maintain recent gains ahead of the SEC's decision on VanEck's Ethereum ETF application. The discount on the Grayscale Ethereum Trust narrowing to 8% from 30% a week ago suggests a 90% chance of the ETF being approved, one analyst says. The SEC's decision is expected throughout the day.

Shares of chipmaker Nvidia hit a record high after the company beat analysts' forecasts by reporting record revenue of $26.04 billion for the first quarter. This could be a positive sign for cryptocurrencies, including tokens related to AI technology.