Public feedback on Ethereum ETF applications by Grayscale, Fidelity, and Bitwise has been requested by the U.S. Securities and Exchange Commission. This request comes amidst a reduced optimism for spot Ethereum ETF approval in May '24, dropping to 25% positivity since the recent halt on the VanEck spot Ether ETF application.

The SEC has extended the review period due to the need for more time to deliberate the proposed rule change regarding the VanEck spot Ether ETF application. Individuals interested in providing feedback on the proposed rule changes have three weeks to do so.

Bloomberg ETF analyst James Seyffart displayed skepticism about the approval of Ethereum ETFs following the SEC's move. The recent decline in Ethereum's price was mainly influenced by Bitcoin's drop of nearly 6% at the beginning of April, leading to $91.91 million in total liquidations for Ethereum.

Despite the SEC's decision-making process mirroring that of Bitcoin ETFs – involving delays, rejections, appeals, and public comment requests – uncertainty still looms over the final outcome for Ethereum ETFs and their potential impact on the future of the market.