JPMorgan Chase: If the US SEC refuses to approve the spot Ethereum ETF, it may face legal challenges and ultimately lose the case

JPMorgan Chase (JPM) said that the Wells Notice issued by the U.S. Securities and Exchange Commission (SEC) to trading platform Robinhood (HOOD) should not pose a hurdle to the final approval of a spot Ethereum ETF. JPMorgan Chase said that the SEC's legal action against the cryptocurrency exchange appears to be an attempt by the agency to influence U.S. policymakers and lawmakers who will be responsible for passing cryptocurrency market regulations at some point. The SEC's refusal to approve a spot Ethereum ETF may face legal challenges and ultimately fail. (CoinDesk) #crypto2023A