According to Odaily, the US Securities and Exchange Commission (SEC) is set to announce at least one decision on Ethereum spot ETF applications before next week. This information was revealed by two informed sources. Some fund companies are expected to face rejection as their private conversations with the SEC have not been as frequent as they were before the approval of the Bitcoin spot ETF in January this year.
Data from Bloomberg shows that the 'VanEck Ethereum ETF' has a final resolution date of May 23, making it the earliest. In the weeks leading up to the SEC's approval of the Bitcoin ETF, fund companies submitted multiple versions of revised documents to address the SEC's concerns, paving the way for these ETFs to be approved. In contrast, there has been much less of this type of activity for Ethereum spot ETFs.
Katherine Dowling, Chief Legal Advisor at Bitwise, stated that most people expect the SEC not to approve the Ethereum spot ETF. 'If it were to be approved, you wouldn't see this kind of public activity now,' she said. Bitwise submitted an Ethereum spot ETF in March this year.