JPMorgan Doubts SEC Will Approve Solana and Other Crypto ETFs

👀 JPMorgan casts doubt on the SEC approving Solana and other crypto ETFs, despite the recent approval of Ethereum ETFs. 🤷 They believe there the SEC's decision on ETH ETFs is already a stretch due to the ambiguity around Ethereum's classification as a security and that the SEC has a strong opinion that tokens other than Bitcoin and Ethereum should be classified as securities, making the approval of Solana or other token ETFs unlikely.

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✔️ But just a month ago, the approval of an Ethereum ETF seemed unlikely. Considering that the U.S. House of Representatives recently passed a bill FIT21, and if it is approved by the Senate and signed by the President, most tokens will be considered commodities and will fall outside the SEC's control, the launch of a Solana ETF doesn't seem impossible. 🧐