Politicians against crypto, take sides against Ethereum ETFs (... given what they have sprung on Bitcoin...)

Source: https://it.vecteezy.com/vettori-gratis/diavoli?page=38

Do you remember the various predictions regarding the approval, by May 23rd, of Ethereum spot ETFs by the Securities and Exchange Commission (SEC)? Well, it seems that the enthusiasm and expectations regarding this are dwindling.
The current scenario sees, on one hand, SEC staff members, who due to repeated delays in decision-making, seem to show limited commitment towards Ethereum spot ETFs, and on the other hand, politicians adverse to cryptocurrencies, starting with Senator Elizabeth Warren, who, according to a recent post on X by Fox journalist Eleanor Terrett, are actively opposing the approval of Ethereum spot ETFs.

While stakeholders in the sector have tried to persuade SEC staff to accelerate the process, members of the US regulatory body have not shown the same commitment as they did with Bitcoin spot ETF requests.
The SEC believes it has appeased the cryptocurrency sector with Bitcoin spot ETFs.
According to Terrett, SEC Chairman Gary Gensler believes he has already placated the sector with the approval of Bitcoin spot ETFs.
Meanwhile, influential anti-crypto politicians like Senator Warren, who were previously against the approval of Bitcoin spot ETFs by the SEC, are now aligning against a similar outcome for Ethereum.
According to a source cited by Terrett, assessing the position of SEC staff has been difficult, leaving many uncertainties about their thought process.

However, the source emphasized that if the Ethereum spot ETF has any chance of being approved, the SEC staff will need to start their work soon, considering that the May 23rd deadline is just over two months away.
Gensler remains silent on Ethereum spot ETFs.
Last month, when asked about the possibility of a decision and the timing for the approval of the ETH ETF, Gensler stated that the process will follow the same approach as with Bitcoin (BTC) ETFs.
However, he refrained from providing specific details or a potential timeline.
On February 6th, the SEC postponed its decision on the Invesco Galaxy Ethereum ETF, following a delay in December regarding Invesco's ETF application.
The SEC also delayed decisions on other Ethereum ETF requests, including those from major companies like Grayscale, Fidelity, and BlackRock, the largest asset management company globally.
In particular, other asset management companies, including VanEck and Hashdex, are seeking approval for an Ethereum ETF, while Franklin Templeton has become the latest asset manager to file for an Ethereum spot ETF.

Meanwhile, institutions based in Hong Kong are actively preparing to launch Ethereum spot ETFs in an attempt to gain an advantage over the United States.
It's worth noting that demand for Bitcoin spot ETFs in the US has remained strong since their launch.
Last week, the cumulative net inflow of Bitcoin spot ETFs surpassed $2.24 billion, driving the price of Bitcoin to new all-time highs. The total assets under management of Bitcoin ETFs currently amount to $55.34 billion.