PANews reported on May 21 that Bloomberg Senior Analyst Eric Balchunas tweeted that he heard some rumors this afternoon suggesting that the SEC might make a 180-degree turn on its stance regarding the approval of a spot Ethereum ETF (this issue is becoming increasingly politicized), thus raising the probability of the spot Ethereum ETF being approved from 25% to 75%. Everyone is now scrambling to prepare (like us, others also thought it would be rejected). However, before seeing more evidence, such as application updates, the probability cap will be set at 75%. Subsequently, Bloomberg Analyst James Seyffart responded on Twitter, stating that Eric Balchunas raised the probability of the spot Ethereum ETF being approved to 75%. But this only pertains to the 19b-4 filing (a rule change proposal); we still need the S-1 (registration statement) to be approved. The approval of the S-1 and the actual launch of the Ethereum ETF could still take several weeks to months.