The SEC may not approve new ether ETFs this month.

It is anticipated that the U.S. Securities and Exchange Commission will make a crucial decision regarding the approval of exchange-traded funds next week.

According to Ric Edelman, head of the Digital Assets Council of Financial Professionals, the lack of an over-arching regulatory framework for all cryptocurrencies may cause it to fail.

Edelman stated on CNBC's "ETF Edge" that he believes there will be another delay, which is not entirely negative.

Edelman, an investor and author, believes that regulations are necessary to safeguard individuals from crypto scams. He points out that current laws, dating back more than half a century, are not designed to accommodate digital technology.

"Due to the absence of law enforcement, investors are forced to seek advice outside of the investment advisory community, resulting in scams and frauds. However, SEC Chair Gary Gensler claims to be protecting consumers by not writing regulations, which ultimately harms them."

Bitwise Asset Management's Matt Hougan is also pushing for new rules.

"The firm's chief investment officer stated that the 80-year-old securities laws do not align with the current digital asset, crypto, and 21st century technology landscape. Ultimately, the goal is to have a secure platform that protects both investors and innovation."

Bitwise has its own application for an Ethereum ETF, and Hougan is optimistic about its future prospects.

"The ETF era for crypto has arrived, as we have witnessed the successful launch of ETFs in the market. These ETFs have brought numerous benefits to investors, such as lower costs, better regulation, enhanced safety, and increased security and peace of mind. According to Hougan, the same benefits will be achieved on ethereum as well."

This month, the two ether ETF proposals submitted by VanEck and ARK Investments/21Shares will be approved or denied.