A Bloomberg exchange-traded fund analyst estimates that there is only a 30% chance of spot ETFs for ether being approved in the US in May 2024. In January, the expert estimated the possibility of launching these innovative investment products at 70%.

Eric Balchunas believes that the US Securities and Exchange Commission (SEC) will not rush to approve applications from Coinbase and Grayscale.

His colleague, expert James Seyffart, shares a similar point of view: the story with ETH-ETF is fundamentally different from the approval process for spot Bitcoin ETFs. The SEC has not yet demonstrated any intention to quickly resolve the issue of launching ETFs on ether.

A few days ago, representatives from Coinbase and Grayscale met with SEC officials to discuss the filings. However, so far the agency has not provided any comments regarding the meeting with the candidates.

Representatives of the investment company GSR Markets also expressed doubts about the quick launch of the Ethereum ETF, pointing out that there is no progress, and the chances of approval of Coinbase and Grayscale applications by the end of May 2024 are decreasing.

Earlier, analysts from S&P Global Ratings indicated that the launch of spot ETFs for ether could concentrate a significant amount of ETH in one hand, and this would further centralize the network.