JPMorgan: The likelihood of the U.S. SEC approving an ETH spot ETF before May is no more than 50%

2024-01-22 09:35:42

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ChainCatcher news, according to CoinDesk, JPMorgan analysts predict that the likelihood of the U.S. Securities and Exchange Commission (SEC) approving a spot Ethereum (ETH) exchange-traded fund (ETF) before May is no more than 50%. Analysts believe that the possibility of Ethereum being classified as a commodity is uncertain. JPMorgan analyst Nikolaos Panigirtzoglou stated that although some believe the SEC's omission of ETH in its lawsuits against cryptocurrency exchanges suggests that the regulator may classify it as a commodity in the coming months, he is skeptical about this.

Additionally, the report mentions that the SEC is currently suing cryptocurrency exchanges that offer staking services for proof-of-stake blockchains like Ethereum, which may make the approval of a spot ETF for Ethereum more difficult.

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