JPMorgan: Expects the SEC will not approve other cryptocurrency ETFs after the spot Ethereum ETF

2024-05-27 22:03:32

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ChainCatcher news, JPMorgan expects that the SEC will not approve other cryptocurrency ETFs after the spot Ethereum ETF.

JPMorgan's Managing Director and Global Market Strategist Nikolaos Panigirtzoglou stated, "We are skeptical about this. Given the ambiguity of whether Ethereum should be classified as a security, the SEC's decision to approve the ETH ETF is already quite strained. We believe the SEC will not further approve Solana or other token ETFs, as the SEC is more strongly inclined (compared to Ethereum) to consider tokens other than Bitcoin and Ethereum as securities. Unless U.S. policymakers ultimately pass legislation determining that most cryptocurrencies are not securities, the SEC may approve other cryptocurrency ETFs, but there is currently no such legislation."

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