TechFlow reported that crypto market maker GSR has lowered the probability of approval for a spot Ethereum ETF in May from its previous estimate of 75% to 20%.
GSR stated that the U.S. SEC has shown limited active engagement in the review process and is facing political pressures. The approval process for a spot Ethereum ETF could potentially extend into 2025 or even 2026, according to the firm.
Bloomberg analysts have also reduced their estimated approval odds for a spot Ethereum ETF to 30%.




