Insider: Multiple fund companies predict that the SEC will not approve Ethereum spot ETFs next week

The U.S. SEC is preparing to announce at least one decision on an Ethereum spot ETF application before next week. According to two informed sources, some fund companies are expected to be rejected because their private conversations with the SEC are not as frequent as they were before the Bitcoin spot ETF was approved in January this year. Bloomberg data shows that the final resolution date for "VanEck Ethereum ETF", an Ethereum spot ETF, is May 23rd, which is also the earliest.

In the last few weeks before the SEC approved Bitcoin ETFs, fund companies submitted multiple versions of revised documents to help address issues raised by the SEC, paving the way for these ETFs to be approved. In contrast, there's much less such activity for Ethereum spot ETFs. Katherine Dowling, Chief Legal Advisor at Bitwise said most people expect that the SEC will not approve (the Ethereum Spot ETF). If it were going to get approval you wouldn't see this kind of public activity now. Bitwise submitted its Ethereum Spot ETF in March this year.