JP Morgan: SEC not expected to approve other cryptocurrency ETFs after spot Ethereum ETF

According to ChainCatcher news, JPMorgan Chase does not expect the SEC to approve other cryptocurrency ETFs after the spot Ethereum ETF.

Nikolaos Panigirtzoglou, managing director and global market strategist at JPMorgan Chase, said: “We doubt it. Given the ambiguity about whether Ethereum should be classified as a security, the SEC’s decision to approve an ETH ETF is already too far-fetched. We do not think the SEC will go further. Approve Solana or other token ETFs because the SEC has a stronger (relative to Ethereum) view that tokens other than Bitcoin and Ethereum should be classified as securities unless U.S. policymakers ultimately pass legislation deeming most cryptocurrencies not to be securities. The SEC may approve other cryptocurrency ETFs, but there is no such legislation yet.”