Bloomberg ETF Analyst: Spot Ether ETFs Won't Be Approved in May

The chances of spot ethereum ETFs being approved in May have become increasingly slim, according to Bloomberg ETF analyst James Seyffart, who cited what appears to be a lack of engagement by U.S. regulators with potential issuers on these products. They now believe that these products will ultimately be denied issuance on May 23rd.Seyffart and his colleague Eric Balchunas had previously put the chances of approval in May at 35%. The U.S. Securities and Exchange Commission (SEC) previously delayed its decision on the spot ethereum exchange-traded fund, but a decision must be made by May 23, which is the final deadline for one of the applicants. Gold Finance reports that the chances of spot ethereum ETFs being approved in May have become slimmer, according to Bloomberg ETF analyst James Seyffart, who cited what appears to be a lack of engagement from U.S. regulators with potential issuers on these products. They now believe that these products will ultimately be denied issuance on May 23rd.Seyffart and his colleague Eric Balchunas had previously put the chances of approval in May at 35%. The U.S. Securities and Exchange Commission (SEC) previously delayed its decision on the spot ethereum exchange-traded fund, but it has until May 23 to make a decision, as that is the final deadline for one of the applicants.