The U.S. Securities and Exchange Commission (SEC) is expected to decline spot Ethereum exchange-traded fund (ETF) applications next month, according to Reuters.

The regulator’s anticipated refusal of Ethereum ETFs contrasts with its earlier sanctioning of Bitcoin ETFs, which have garnered substantial investor interest.

According to four people who reportedly participated in meetings with the SEC, current applications are expecting rejections due to unfruitful discussions with the securities regulator.

The lack of engagement observed in these meetings, compared to those preceding the Bitcoin ETF approvals, suggests the SEC may demand additional information on the Ethereum market.

There are nine spot Ether ETF applicants, including VanEck and BlackRock.

Analysts speculate that the green light for Ether ETFs might be postponed until later in 2024 or even further, Reuters reported.

Meanwhile, Hong Kong’s Securities and Futures Commission (SFC) has sanctioned the first series of Bitcoin and Ether ETFs, with trading slated to begin on April 30.