The presence of ICOs, NFTs, and DeFi tokens on Ethereum and the associated fraud cases can really pose a big challenge for the SEC. Also, the potential for extra returns from Ethereum staking makes it even more complicated, as the SEC often considers such financial activities to be securities. Therefore, your fear that the approval of Ethereum ETFs may be delayed this year is justified. Given the timelines and requirements of the SEC's regulatory and investigation process, approval of Ethereum ETFs may be challenging in the near future.