Cathie Wood, CEO of Ark Invest, indicated that the approval for spot Ether exchange-traded funds (ETFs) is likely to extend beyond the May deadline, as shared with the media. Despite expectations of a ruling from the Securities and Exchange Commission (SEC) by May 23rd, Wood believes that Ark Invest's application won't be among those addressed. She anticipates a similar outcome for other applications.

Ark Invest submitted its application alongside 21Shares for the Ark 21Shares Ethereum ETF. Conversely, BlackRock, a global asset manager, focuses on a spot Ether ETF. CEO Larry Fink expressed confidence that the SEC's view of Ether as a security won't impact applications for this new investment avenue.

However, many in the crypto community perceive the SEC as delaying its approval of spot Ether ETFs. Continuous communication with the SEC has provided insights into the status of Bitcoin and, consequently, the spot Bitcoin ETF.

Cathie Wood suggests that the SEC is deliberating on the matter and, consequently, is taking its time. In early January, the country's first bitcoin ETF received SEC approval, leading to unexpected inflows totaling $243.4 million.