N‐Heterocyclic olefin (NHO)‐based polymerization pathways for the copolymerization of ethylene oxide (EO) and propylene oxide (PO) are investigated in detail. Employing in situ 1H NMR spectroscopy, both an organocatalytic, anionic polymerization setup (system A) and a zwitterionic, Lewis pair‐type approach (system B) are studied comparatively. The obtained kinetics data are fitted to the non‐terminal model (Jaacks and Ideal Integrated) and terminal Mayo–Lewis model (Meyer Lowry) to determine the reactivity ratios, revealing striking differences in copolyether microstructure and achievable molar masses. While for the metal‐free catalysis (system A) reactivity ratios of rEO = 3.4 and rPO = 0.30 are found, indicating a soft gradient structure, the presence of Mg(HMDS)2 (system B) entails exclusively zwitterionic propagation. This results in enhanced selectivity, displaying corresponding parameters of rEO = 7.9 and rPO = 0.13, in line with the proposed monomer‐activated mechanism. The block‐like, strongly tapered copolyether microstructure is also reflected in the thermal properties, showing a melting point for the latter sample and much higher molar masses (Mn >50 000 g mol−1). Notably, this study not only identifies capable polymerization systems for EO/PO, but also underlines that via in situ 1H NMR kinetics key questions regarding the polymerization mechanism can be illuminated quickly and reliably, simplifying access to essential structure‐property relations.