Alex Thorn, Head of Research at Galaxy Digital, said that the chances of an Ethereum spot ETF approval in May was 'extremely unlikely.'
that the chances of approval in May – the final deadline for the first list of ETF applications – was “extremely unlikely.”
The pessimistic projection stemmed from the unfriendly stance taken by the U.S. Securities and Exchanges Commission , which was reviewing numerous applications for an ETH ETF.by global business media company, Fortune, revealing a major push by the SEC to get Ether labeled as a security. Fortune reported that the regulator also served subpoenas to several companies in recent weeks as part of an investigation into the Ethereum Foundation – a non-profit organization that supports Ethereum and related technologies.The ambiguity perhaps also reflected in the lack of dialogue between the ETF applicants and regulator, highlighted previously in an AMBCryptoas well. This was quite unlike the approval process of Bitcoin ETFs, during which the SEC regularly engaged with the issuers.
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