随着 SEC 担忧加剧，现货以太坊 ETF 批准前景黯淡

现货以太坊 ETF 的批准前景仍不确定，因为 Polymarket 的可能性为 45%，自 3 月份以来一直保持不变。尽管比特币 ETF 获得批准后最初出现了乐观情绪，但 SEC 将加密货币归类为证券的重点却浇灭了人们的热情。美国证券交易委员会最近就以太坊基金会交易向美国公司发出传票，进一步削弱了市场情绪。申请人已修改其申请，但尚未做出决定。美国证券交易委员会已启动公众意见征询期，但其对批准机会的影响仍不清楚。

SEC Approval Prospects Dim for Spot Ethereum ETFs

SEC 批准现货以太坊 ETF 的前景黯淡

Despite the optimism surrounding the approval of spot Ethereum exchange-traded funds (ETFs), recent developments indicate that the odds of regulatory approval on or before May 31 remain low.

尽管人们对现货以太坊交易所交易基金 (ETF) 的批准持乐观态度，但最近的事态发展表明，监管机构在 5 月 31 日或之前获得批准的可能性仍然很低。

Polymarket Predicts Unfavorable Outlook

Polymarket 预测前景不佳

Data from Polymarket, a decentralized prediction market platform, suggests that the likelihood of spot Ethereum ETF approval remains stagnant at 45%. This lack of progress mirrors the sentiment expressed by market observers last month, with the odds remaining unchanged.

去中心化预测市场平台 Polymarket 的数据表明，现货以太坊 ETF 获得批准的可能性仍停滞在 45%。这种缺乏进展反映了市场观察人士上个月表达的情绪，但可能性保持不变。

SEC's Stringent Stance Dampens Confidence

美国证券交易委员会的严厉立场削弱了信心

Initially, the SEC's approval of spot Bitcoin ETFs in January fueled hopes for a similar outcome for Ethereum ETFs. However, the agency's recent stance on classifying underlying cryptocurrencies as securities has significantly dampened the enthusiasm for Ethereum ETFs.

最初，美国证券交易委员会在一月份批准现货比特币 ETF，引发了人们对以太坊 ETF 出现类似结果的希望。然而，该机构最近将基础加密货币归类为证券的立场大大削弱了人们对以太坊 ETF 的热情。

Subpoenas and Legal Scrutiny

传票和法律审查

The SEC's recent issuance of subpoenas to U.S. companies as part of an investigation into ETH has further eroded confidence. The agency's demand for documents and financial records related to interactions with the Ethereum Foundation has negatively impacted market sentiment.

作为对 ETH 调查的一部分，美国证券交易委员会 (SEC) 最近向美国公司发出传票，这进一步削弱了人们的信心。该机构对与以太坊基金会互动相关的文件和财务记录的要求对市场情绪产生了负面影响。

Ongoing Review and Public Comment Period

持续审查和公众评议期

The SEC has initiated a public comment period for several proposed spot Ethereum ETFs, including the Fidelity Ethereum Fund, Bitwise Ethereum Fund, and Grayscale Ethereum Trust. While this move indicates the agency's ongoing review of these products, it has not significantly improved the odds of approval.

美国证券交易委员会 (SEC) 已针对多个拟议的以太坊 ETF 现货启动了公众评议期，其中包括富达以太坊基金、Bitwise 以太坊基金和灰度以太坊信托。虽然此举表明该机构正在对这些产品进行持续审查，但并没有显着提高批准的几率。

Expert Perspectives and Historical Precedents

专家观点和历史先例

Experts and crypto enthusiasts initially expressed optimism for spot Ethereum ETF approval due to the SEC's earlier favorable action towards spot Bitcoin ETFs. However, the recent legal challenges and regulatory scrutiny have severely diminished their expectations.

由于 SEC 早些时候对现货比特币 ETF 采取了有利行动，专家和加密货币爱好者最初对现货以太坊 ETF 的批准表示乐观。然而，最近的法律挑战和监管审查严重降低了他们的期望。

Implication for Investors

对投资者的影响

The low probability of spot Ethereum ETF approval in the near term raises concerns for investors who have anticipated their launch. The lack of regulatory clarity and the SEC's ongoing focus on securities classification pose significant barriers to the approval of these products.

以太坊 ETF 现货在短期内获得批准的可能性很低，这引起了预计其推出的投资者的担忧。监管不明确以及美国证券交易委员会持续关注证券分类对这些产品的批准构成了重大障碍。

Conclusion

结论

Based on current market sentiment and expert analysis, the prospects for spot Ethereum ETF approval by May 31 appear unfavorable. The SEC's ongoing legal actions, coupled with its reluctance to acknowledge cryptocurrencies as non-securities, have significantly reduced the likelihood of these products receiving regulatory approval in the foreseeable future.

根据目前的市场情绪和专家分析，现货以太坊 ETF 在 5 月 31 日之前获得批准的前景似乎并不乐观。美国证券交易委员会正在进行的法律行动，加上其不愿承认加密货币为非证券，大大降低了这些产品在可预见的未来获得监管批准的可能性。