According to U.Today, the likelihood of Ethereum exchange-traded funds (ETFs) getting approved in May is slim, says leading ETF analyst Eric Balchunas. A recent report by Barron's revealed that several ETF issuers have held discussions with the Securities and Exchange Commission (SEC) about Ether ETFs. However, the regulator has not yet given these companies the necessary feedback.
Earlier this year, the SEC was involved in a consent 'back-and-forth' on the verge of approving Bitcoin ETFs. However, this time, the regulator is not keen to actively engage with ETF issuers, with the conversations being mostly one-sided. The SEC is expected to provide comments on a number of Ethereum ETF applications for the approval process to proceed. So far, they have declined to provide any feedback, even during personal meetings.
In March, the SEC delayed its decision on several Ethereum ETF filings, including one from financial giant BlackRock. The Bloomberg ETF expert had previously estimated that the chances of an Ethereum ETF being approved in May were only 25%. Last week, the regulator finally requested comments on the applications by BlackRock and other firms. Ethereum ETF proposals are facing several challenges, from pressure in Congress to increasing scrutiny over the regulatory status of the largest altcoin.