In a recent update, Bloomberg ETF analyst Eric Balchunas shared his views that differ from Grayscale CEO Michael Sonneshein's positive expectations regarding the approval of Ethereum Spot ETFs. Balchunas expressed doubt that these ETFs would gain approval within the next year, highlighting upcoming elections and rejections as crucial factors that could impact the situation.

Balchunas pointed out that Grayscale's decision to withdraw the '33 Act Ether Futures ETF was motivated by a shift in focus towards spot products. He explained that filing under the '33 Act was primarily to permit litigation, and withdrawing the application effectively eliminated the possibility of legal action against Grayscale.

The analyst emphasized that Grayscale's move was not about presenting a large ETF opportunity on a silver platter but rather redirecting attention to spot products. Despite Grayscale's role in securing approval for BlackRock Bitcoin Spot ETFs, the company faced criticism for fund outflows.

*Please note that this information does not constitute investment advice.