The path to approving a spot Ethereum (CRYPTO:ETH) ETF in the United States has hit snags, with an SEC investigation into the Ethereum Foundation and reduced communication raising eyebrows and adjusting approval odds to a mere 25%.

Eric Balchunas of Bloomberg sees the diminished likelihood of a May approval as reflective of increasing skepticism, yet Coin Bureau's Nic Puckrin views these delays as potentially advantageous, suggesting they might avoid the lukewarm reception similar products have previously faced.

Puckrin points out the critical role of staking in Ethereum's appeal, arguing that without yield-generation features, the allure of Ethereum ETFs wanes, especially amid regulatory debates over Ethereum's classification as a security.

Matt Hougan from Bitwise proposes a strategic postponement of ETF approvals to December, believing this would give the traditional finance sector ample time to familiarise itself with Bitcoin and crypto, thereby strengthening the foundation for Ethereum ETFs.

With ETH's price currently at $3,344, the industry watches closely, anticipating how these developments and potential regulatory shifts could eventually foster a more conducive environment for Ethereum ETFs and possibly catalyse a new altcoin season.