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, ...Full story available on Benzinga.com
Related tickers: BLK, ETHE.
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