Sources: The U.S. SEC is expected to reject the approval of a spot Ethereum ETF next month

ChainCatcher news, industry insiders say that the U.S. Securities and Exchange Commission (SEC) is expected to reject the spot Ethereum ETF next month.

VanEck, ARK Investment Management, and seven other issuers have submitted applications to the SEC to launch a spot Ethereum ETF. The SEC must decide on VanEck and ARK's applications on May 23 and May 24, respectively, as these two companies are among the first to apply. However, four informed sources said that after frustrating talks with the relevant companies in recent weeks, the SEC is expected to reject the applications from these two companies to launch a spot Ethereum ETF.