PANews May 24th news, according to Cointelegraph, Bloomberg ETF analyst James Seyffart has always said that the approval of the Ethereum spot ETF's S-1 may be completed "in a few weeks", but he also pointed out that "it may take longer" because the process usually takes up to five months. However, Bloomberg ETF analyst Eric Balchunas responded, "It is definitely possible in mid-June." Balchunas expects that there will only be one round of comments on the amended S-1 document, similar to the feedback provided by the SEC to applicants for spot Bitcoin ETFs. He pointed out that this process takes about two weeks, which is how he came up with the estimated result in mid-June.

However, Gabriel Shapiro, the general counsel of Delphi Labs, pointed out that the approval from the U.S. SEC was made by its Division of Trading and Markets under "authorization," and claimed that any of the five SEC commissioners would have the right to challenge this decision within the next 10 days. Joe Carlasare, a digital asset lawyer, said that while theoretically someone could question this decision, "in practice, they won't." He said, "They wouldn't approve this decision from the Division of Trading and Markets without making sure there's no commissioner opposing it." Seyffart seems to disagree with this view, noting that making decisions in an authorized manner is the "norm" because requiring a formal vote for every decision and document would be "insane." He added that requesting a review is unlikely to have any impact on the approval result.