U.S. Regulators May Reject Ether Spot ETF, Crypto Industry May Not Engage in a Massive Legal Fight Over It

Bloomberg ETF analyst Eric Balchunas says U.S. regulators may reject the ethereum (ETH) spot ETF, and the crypto industry may not engage in a large-scale legal battle over it.Balchunas' latest comments seem like a discouraging sign for ethereum bulls, in contrast to his previous optimism about the bitcoin spot ETF being approved in January. In a tweet on Wednesday, Balchunas mentioned that the crypto industry could sue the SEC if it refuses to approve the ETH Spot ETF by the May deadline, writing, "I doubt it because the Place Ether Futures ETF is only 4% of the assets of Bitcoin Futures. That would take a lot of time and money, while probably only getting a fraction of the assets." However, ethereum bulls say it's not quite right to compare the performance of futures ETFs, especially given the wide variation in their launch times.