The ETH ETF deadline in May is for Ark. Didn't Ark add staking into it? Could that be a reason for the SEC to deny it in May and approve without staking on Blackrock's deadline in August?

Human Coordination Systems. Head of Operations @ Obol, DVT. Decentralizing $ETH

The SEC will just tell Ark to remove that part of it - I give it a 0% chance that the initial spot ETH ETFs that get approved will have any staking component to them.

Possibly, but it could also be throwing the SEC a bone. SEC could request they remove the staking component from their filing and then both parties meet in the middle for a spot only ETF approval. Basically a neither got what they wanted situation, but the approval still happens. Idk, interesting move either way.

so if the ark etf is approved, staking rewards would be a dividend?