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SEC Will Eventually Approve Ethereum Spot ETFs, JPMorgan Says

JPMorgan remains optimistic about the Securities and Exchange Commission's eventual approval of Ethereum spot exchange-traded funds, despite earlier this year assigning no more than a 50% chance of approval by May, the deadline. initial.

“If there is no timely approval of the Ethereum ETF in May, then we assume there will be a litigation process after May,” Nikolaos Panigirtzoglou, managing director and global market strategist at JPMorgan, told The Block.

"We believe the most likely scenario is that the SEC will eventually lose this litigation (similar to what happened with the Grayscale and Ripple legal battles last year), meaning that eventually, the SEC will approve Ethereum spot ETFs ( but not as soon as this can."

Notably, Panigirtzoglou has kept the May approval odds at 50% despite recent reports suggesting that the SEC is investigating the Ethereum Foundation and actively seeking to classify ethereum (ETH) as a security through legal avenues.

The SEC is currently seeking comment on a handful of ETH ETF spot applications, including Fidelity, Grayscale, and Bitwise. Comments on all three are due by the end of this month.

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