📉 Approval doubt for Ethereum ETFs: Jake Chervinsky, Variant Fund General Counsel, was skeptical of spot Ethereum ETFs in the US receiving SEC approval by the end of May.

- Chervinsky noted that the complex legal and policy environment in Washington could cause the SEC to reject applications or ask for them to be withdrawn.

- SEC Chairman Gary Gensler emphasized that the approval of Bitcoin ETFs should not be interpreted as a general acceptance of cryptocurrency ETFs.

- Opinions on Ether ETFs face skepticism from Chervinsky, who criticized overly optimistic views on BlackRock's influence.

- Opinions within the industry vary; While some analysts have downplayed the importance of Ether ETFs, ETF Store President Nate Geraci suggested that the impact of Ether ETFs may be underestimated due to the significant market cap of Ether (ETH) relative to Bitcoin (BTC).