While I can’t speak to what any regulator will approve, I think it’s important to look at other regions and how regulatory approvals of ETFs transpired. For example, the first spot bitcoin ETF was approved in Canada in early 2021. A few months later, ether ETFs gained approval and began trading. Now, there are over 11 ETFs, including a mixed cryptocurrency ETF and an ether-staking ETF. If the same pattern follows, an ether ETF approval can be near.