Craig Salm, head of Grayscale's legal department, has said that the US Securities and Exchange Commission (SEC) is likely to approve a spot Ethereum ETF in the summer of 2024.
In addition, Bloomberg analyst James Seyffart believes there is a 60% chance that the instrument will be adopted in May. If this does not happen, he believes applications will not be approved until 2025.
Seyffart has stated:
"So if the SEC wants to get geared up and ready to go and wants everyone to go at the same time, they’ll likely do it on May 23 unless they can figure out some way to deny or delay this whole process and do what they want."
On January 25, the SEC delayed its decision on BlackRock's Ethereum ETF application until March 10.