Investment bank TD Cowen: The U.S. SEC will not approve an Ethereum spot ETF in the short term

On January 14th, according to The Block report, TD Cowen investment bank believes that the US SEC is unlikely to approve the Ethereum spot ETF in the short term.
Although spot Bitcoin ETFs have recently been approved, TD Cowen expects that the SEC will take a more cautious approach to approving spot Ethereum ETFs. Analysts pointed out that the SEC may wait to gain experience from Bitcoin ETFs before considering approving Ethereum or other cryptocurrency ETFs.
The investment bank stated that the approval process may not take as long as 26 months and may occur after the US election.