Grayscale Investments and BlackRock have recently updated their applications for spot Ethereum ETFs, despite the SEC postponing its decision on the matter.

Grayscale submitted an S-3 registration statement to the SEC on April 23, marking a significant move towards converting its Grayscale Ethereum Trust into an ETF. This filing, termed as "another key filing" by Grayscale, accompanies NYSE Arca's earlier Form 19b-4 submission.

Additionally, Grayscale filed an S-1 registration statement for a mini Ethereum ETF, mirroring its proposed mini Bitcoin ETF, both of which await SEC approval. Meanwhile, Nasdaq revised BlackRock's 19b-4 filing, introducing a proposed rule change to facilitate the listing and trading of shares for BlackRock's iShares Ethereum Trust.

The amendment suggests cash-based creation and redemptions, aligning the proposed fund with competing Ethereum ETF applications and previously approved spot Bitcoin ETFs. The SEC is anticipated to make decisions on multiple Ethereum ETF applications simultaneously in May, amid low expectations for approval.

Bloomberg ETF analyst Eric Balchunas, initially optimistic with a 70% chance of approval earlier in the year, revised his prediction to a pessimistic 25%. Polymarket reports slim odds, with an 11% chance of an Ethereum ETF approval by May 31, represented as betting odds.