According to Odaily, Eric Balchunas, an ETF analyst, has stated that the likelihood of approval for a Bitcoin spot ETF decreases as the deadline approaches without any communication from the SEC. Balchunas made these remarks during a discussion on Space. He noted that in the case of Bitcoin spot ETFs, the SEC had contacted the applicants more than 90 days before the deadline. Therefore, if there is no communication as the deadline nears, the chances of approval naturally decrease.
Previously, some politicians were very dissatisfied with the success of Bitcoin spot ETFs and wrote to SEC Chairman Gary, urging him not to repeat such actions. While the approval of Ethereum spot ETFs still needs to be discussed, there has been a 180-degree political shift, which has surprised even the staff. This is highly unusual.