The ETF Store President Nate Geraci stated on platform X: "A year ago… the U.S. Securities and Exchange Commission 'unexpectedly' approved spot Ethereum exchange-traded funds, my initial view was: because Grayscale won its lawsuit against the SEC, the regulators had no choice, hoping one day to fully understand the story. Since then, although the regulatory environment has changed significantly, there has still been no formal approval for other spot cryptocurrency ETFs so far."