According to Crypto Rover, the U.S. SEC is questioning the legality of proposed Ethereum (ETH) and Solana (SOL) ETFs, highlighting concerns over staking mechanisms and their classification under U.S. investment law (source: Crypto Rover on Twitter, June 2, 2025). This development introduces significant regulatory uncertainty for ETH and SOL ETF approval timelines, which could increase volatility and pressure on both tokens’ spot prices. Traders should closely monitor SEC communications as further scrutiny may delay institutional inflows and affect broader crypto market sentiment.

According to Ai 姨 (@ai_9684xtpa), Canary Capital has submitted an application for a TRX spot ETF on April 19, marking TRX as the 13th cryptocurrency to file for a spot ETF following the approval of BTC and ETH ETFs. This indicates an ongoing trend of altcoin ETF applications sparked by the approval of Ethereum's ETF last May. Currently, several cryptocurrencies like SOL, XRP, LTC, and ADA are also in the race for spot ETF approvals.

According to Crypto Rover, the SEC has acknowledged filings that would permit staking for both Fidelity and Franklin spot ETH ETFs. This development is seen as a significant win for ETH holders, potentially leading to increased demand and price appreciation for ETH.

According to CryptoMichNL, there has been a positive inflow in the ETH ETF for the first time in two weeks. Although it was a regular trading day with some inflow, ETH gained 4% against Bitcoin on that day. This kind of performance is desirable for future trading days.

According to @CCData_io, today's key stories in the cryptocurrency market include the SEC suing Consensys over MetaMask's unregistered offers and sales of securities, the IRS easing concerns with updated crypto broker reporting guidelines, and the delay of the Spot ETH ETF launch due to SEC scrutiny.