Presumably, the U.S. Securities and Exchange Commission (SEC) will approve an ETF based on the current price of Ethereum in the summer of 2024, as stated by the head of Grayscale's legal department, Craig Salm.

Bloomberg market analyst James Seifert, in his commentary for Blockworks, estimates the likelihood of approval for this instrument in May at 60%. Otherwise, he believes that the consideration of applications will be postponed until 2025.

On January 25, the U.S. Securities and Exchange Commission (SEC) postponed the review of BlackRock's Ethereum ETF application until March 10. SEC Chairman, Gary Gensler, emphasized that previous approval of exchange-traded funds was limited to only this cryptocurrency.

Mark Yusko, the CEO of Morgan Creek Capital, expressed less than a 50% chance of rapid approval of an Ethereum ETF and pointed out the SEC's unfriendly attitude towards the industry as a whole.

JPMorgan analyst Nikolaos Panigirtzoglou shares a similar position and also doubts the quick registration of spot Ethereum-ETF. Investment bank TD Cowen's experts expressed similar doubts.