According to U.Today, ETF Store President Nate Geraci pointed out that the general consensus is that the U.S. Securities and Exchange Commission is unlikely to approve spot Ethereum exchange-traded funds (ETFs) in May due to insufficient interaction with issuers in the past few weeks. This is in stark contrast to the frequent "back and forth" discussions observed before the approval of multiple Bitcoin ETFs. The SEC has not received much feedback on Ethereum ETFs, so the possibility of approval now is very small. However, if the SEC rejects a series of Ethereum ETF applications, it may face another lawsuit.

While futures-based ETFs tracking the value of the largest altcoin have received less attention, Geraci believes that Ethereum ETFs are still a big deal given the stunning success of Bitcoin ETFs. Ethereum’s $379 billion market cap makes it “a big enough thing” for analysts and issuers to pay attention to.