According to Odaily Planet Daily, crypto market maker GSR lowered the probability of approval of the Ethereum spot ETF in May from the previous 75% to 20%. GSR analysis believes that the U.S. SEC lacks active participation in the approval process and is affected by political pressure. It is expected that the approval process of Ethereum spot ETF may be extended to 2025 to 2026. Bloomberg analysts also lowered the probability of Ethereum spot ETF approval to 30%.
