Insider: Multiple fund companies expect the SEC will not approve Ethereum spot ETF next week

On May 18th, it was reported that the US SEC is preparing to announce at least one decision regarding an Ethereum spot ETF application before next week. According to two 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 approval in January of this year.

Bloomberg data shows that the final resolution date for the VanEck Ethereum ETF is May 23rd, which is also the earliest. In the weeks leading up to the approval of the Bitcoin ETF by the SEC, fund companies submitted multiple revised versions to help address issues raised by the SEC, paving the way for approval of these ETFs. In comparison, there has been much less activity of this kind for Ethereum spot ETFs.

Katherine Dowling, Bitwise's general counsel, said that most people expect the SEC to not approve the Ethereum spot ETF. If it were to be approved, you wouldn't see this kind of public activity now. Bitwise submitted an Ethereum spot ETF in March of this year.