Cathie Wood "Ethereum Spot ETF Approved, May Beyond"

Cathie Wood, CEO of Ark Investments, is pessimistic about the May approval of an Ethereum (ETH) spot exchange traded fund (ETF), which has been a major topic of discussion in the crypto market recently.

In an interview with BlockWorks on May 1 (local time), Cash Wood said that the SEC will take additional time to conduct proper research to approve an ETH spot ETF, which will make the May approval of an ETH spot ETF virtually impossible. "The odds are stacked against a May approval," he said, adding that while the SEC is due to release its findings on May 23, there is no guarantee that we will receive a positive message from the SEC. "People in the industry, including regulators, are in no rush to approve an ETH spot ETF."

Ark Investments, led by Cash Wood, also filed an application for approval of an ETH spot ETF with the SEC in late January. While Cashwood believes the May approval of an ETH spot ETF is unlikely, he insists that it will eventually be approved and come to market. "I think the SEC is just working on the approval and will announce it at the appropriate time," he said.

Industry experts currently point to December as the next likely approval date for an Ethereum spot ETF. "It's virtually impossible for Ethereum to be approved in May, and an Ethereum spot ETF will likely attract more funds in a December launch than a May launch," Bitwise CIO Matt Hughan explained on his X account.