According to the hot development, Ark Invest has updated its application again by removing the staking part from the Ethereum Spot ETF application.
It was known that the SEC did not want the staking feature for spot ETFs, as it made the asset a security. Now the removal of this feature from the application has led to speculation that there are negotiations between Ethereum Spot ETF applicants and the SEC and that the applications are shaped according to the SEC's wishes.
However, the reason for this latest change is not known for certain and no statement has been released from the parties yet.
Cryptocurrency analysts point to May as a very important month for these ETFs. May 23 is particularly highlighted as an important date for VanEck's spot Ethereum ETF application deadline. So far, analysts are leaning towards the possibility that these ETFs will likely be rejected.
Grayscale, the world's largest digital asset provider, recently withdrew its own Ethereum futures ETF, thus avoiding shouldering the burden of litigation alone in the event of a rejection from the SEC.
*This is not investment advice.