In the evolving landscape of cryptocurrency investments, the prospect of an Ethereum (ETH) Exchange-Traded Fund (ETF) approval in May 2024 has garnered significant attention. Zhu Su predicts a 50/50 chance of approval, contrasting sharply with a more conservative estimate of 21%. JPMorgan, a leading financial institution, has echoed this cautious optimism, suggesting a maximum of 50% likelihood for approval, with some analysts even suggesting a below 50% chance. This stance is influenced by ongoing SEC investigations into firms associated with the Ethereum Foundation. The potential for legal action against the SEC, should the ETFs be denied, adds a layer of complexity to the situation. Analysts speculate that any litigation faced by the SEC in this context could ultimately lead to the approval of spot Ethereum ETFs, despite the current uncertainty. It's noted that Ether futures only ETFs hold just 4% of the assets that bitcoin futures ETFs do, highlighting the financial stakes involved.