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Another Bitcoin maximalist, CEO of Jan3 Samson Mow also responded to the Ethereum ETF approval negatively. Mow believed that the odds for spot Ethereum ETFs getting approved had been always 50/50. He reckons that the only real reason that stands behind the approval is that the SEC had pushed themselves in a corner, so they “had no choice but to let it through.”Spot ETFs. The SEC really painted themselves in a corner and had no choice but to let it through. It's important to understand that this does not change the bearish outlook for Ethereum at all.