Bloomberg ETF analyst James Seyffarth believes the chances of U.S. spot ETFs getting approved in May are getting slimmer. Regulators have shown little enthusiasm for the issue, he said.

The US Securities and Exchange Commission (SEC) is expected to make a decision on several applications to launch spot Ethereum ETFs before the end of May. The decision has already been postponed several times, but earlier analysts were more positive, given the launch of spot Bitcoin ETFs. However, it appears that investors should not wait for such funds to appear in May.

“We are pretty sure that applications for ETH exchange traded funds will be rejected on May 23rd,” James Seyffart wrote on social network X.

Currently, the SEC has 7 applications for spot Ethereum ETFs pending before the SEC. The companies awaiting decisions are BlackRock, Fidelity, Invesco with Galaxy, Grayscale, VanEck, 21Shares and Ark, as well as Hashdex. Seyffart emphasized that if in the case of the approval of funds for BTC the regulator held intensive discussions with the applicants, then in this case there is a lull.

Earlier, another Bloomberg exchange-traded funds analyst, Eric Balchunas, said that the likelihood of spot ETH exchange-traded funds being approved in May is about 30%.