Saylor Predicts SEC Will Designate Ethereum as a Security and Deny Spot ETF Applications This Summer

MicroStrategy CEO and co-founder Michael Saylor believes the SEC will classify Ethereum as a security this summer and reject related spot ETF applications filed by several asset managers, including BlackRock.

Saylor made the prediction in a social media post on May 2 during a presentation at the MicroStrategy World 2024 conference. He further predicted that other "below the stack" cryptocurrencies will also get an unregistered security designation, including BNB, Solana ( SOL), XRP, and Cardano (ADA).

Saylor said, "None of them will ever be included in a spot ETF, none of them will ever be accepted by Wall Street..."

Saylor, on the other hand, stated that Bitcoin (BTC) alone has full institutional acceptance. He called BTC the “single universal” institutional-grade crypto asset and said “there won’t be another.”

#MicroStrategy #BTC #BullorBear #BitcoinETFs #eth‬ $BTC $ETH $BNB