JPMorgan said the odds of approval for a spot Ether ETF by May would not exceed 50%.

After the BTC ETF story dominated the market last year, traders are looking to Ethereum as the next candidate to receive spot ETF approval in the United States. Reflecting this sentiment is the discount to net asset value (NAV) of the Grayscale Ethereum Trust. According to JPMorgan, ETHE) has been shrinking since the summer and has remained at around 12% over the past two months.