According to the Daily Planet, Mark Yusko, founder and CEO of Morgan Creek Capital Management, said that the probability of the U.S. Securities and Exchange Commission (SEC) approving an Ethereum spot ETF this year is less than 50%. Considering the remarks of SEC Chairman Gary Gensler, the U.S. financial authorities still seem to be keeping their distance from virtual assets. Yusco said that one reason why the Ethereum spot ETF is difficult to get approved is that the SEC classifies BTC as a product, but its position on Ethereum is a security.