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A JP Morgan executive expressed skepticism about the potential approval of the Solana ETF. We will explain everything to you ! 🤯
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🔥 THE BURNING NEWS OF THE DAY
SEC Won’t Approve More Crypto ETFs According to JP Morgan
Investment bank JPMorgan has expressed skepticism about the SEC's approval of ETFs for Solana and other cryptocurrencies, following the recent approval of Ethereum ETFs. Nikolaos Panigirtzoglou, managing director and global market strategist at JPMorgan, shared his reservations with The Block, pointing out that the SEC considers most cryptocurrencies to be securities, thus complicating the approval of new ETFs.
The SEC's decision to approve Ethereum ETFs was complex due to ambiguity regarding Ethereum's status as a security. Panigirtzoglou believes the SEC will go no further in approving ETFs for cryptocurrencies like Solana, which it more clearly perceives as securities compared to Ethereum.#Web3
He believes that without a legislative change in the United States reclassifying most cryptocurrencies as non-securities, it is unlikely that additional crypto ETFs will be approved.
