Mark Yusko: The probability of the US SEC approving an Ethereum spot ETF this year is less than 50%

Mark Yusko, founder and CEO of Morgan Creek Capital Management, stated that the probability of the Securities and Exchange Commission (SEC) approving an Ethereum spot ETF this year is less than 50%. Considering the comments made by SEC Chairman Gary Gensler, it appears that US financial authorities are still keeping their distance from virtual assets. Yusco stated that one reason why an Ethereum spot ETF is difficult to approve is that the SEC categorizes BTC as a product, but its position on Ethereum is that it is a security.