ETHE - JPMorgan Skeptical About SEC Approval of Solana Other Crypto ETFs | Benzinga
JPMorgan casts significant doubt on the SEC approving additional cryptocurrency ETFs beyond Ethereum (CRYPTO: ETH), due to concerns over the classification of most cryptocurrencies as securities.
What Happened: JPMorgan's managing director and global market strategist Nikolaos Panigirtzoglou expressed skepticism regarding the SEC's willingness to approve ETFs for cryptocurrencies like Solana (CRYPTO: SOL), The Block reported. He said the SEC's decision to approve Ethereum ETFs was already a stretch due to ongoing ambiguity about Ethereum's classification as a security.
His comments come in the wake of the SEC's approval of spot Ethereum ETFs last week, an event seen as politically motivated by some analysts. The SEC approved 19b-4 forms from various applicants such as Grayscale (OTC:ETHE), Bitwise, BlackRock (NYSE:BLK), VanEck, ...