Absolutely, the approval of the Bitcoin ETF was a significant milestone, and it indeed had a notable impact on the market. The fact that several companies, including BlackRock, have filed for an Ethereum ETF indicates a growing interest in expanding the scope of cryptocurrency investment vehicles.

Considering the regulatory green light for the Bitcoin ETF, it does create a positive precedent for Ethereum. The SEC's decision for Bitcoin suggests a clearer path and understanding of these financial instruments. However, it's crucial to remember that each asset class is unique, and the SEC will likely evaluate Ethereum's case on its individual merits.

The upcoming May deadline for the Ethereum ETF decision will be closely watched by the community. If approved, it could potentially open new avenues for investment and further influence the market dynamics. As always, it's advisable for investors to stay informed and monitor regulatory developments closely.