FOX Business reporter Eleanor Terrett posted on the X platform that optimism about the SEC’s approval of an ETH spot ETF before May 23 is waning. According to its conversations with people familiar with the matter, meetings in recent weeks have been largely one-sided, with issuers and custodians trying to drum up SEC staff to move the process forward, but staff have not (as they did with BTC spot ETFs). like when applying) to really get involved in a meaningful way.
Eleanor Terrett hears SEC Chairman Gary Gensler thinks he has calmed the industry by approving a BTC spot ETF. Additionally, influential anti-crypto politicians such as Senator Elizabeth Warren are already outraged by the US SEC’s approval of a BTC ETF and are rallying against a similar situation happening with Ethereum.