Wu said he was informed that Variant Chief Legal Officer Jake Chervinsky said that the confidence in the ETH spot ETF being approved this year is much lower than many people. The SEC has encountered huge political resistance for approving the BTC spot ETF, although it was basically forced by the court to do so. do; sentiment has taken over the market now, and the ETH ETF will only make that worse; BlackRock’s near-perfect record in getting ETF approvals has as much to do with its partnership with the SEC as it does with its ability to exert pressure, If the SEC asks BlackRock and other ETH ETF sponsors to withdraw (which is common practice), I bet they will.