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Market maker GSR has lowered the probability of approval for spot Ethereum ETF in May from 75% to 20%.

2024.03.28 - 00:05

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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%.

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