According to Odaily, Morgan Stanley has projected that the U.S. Securities and Exchange Commission (SEC) will not approve any more cryptocurrency ETFs following the spot Ethereum ETF. This prediction was made by Morgan Stanley analyst Nikolaos Panigirtzoglou. He stated that unless U.S. policy makers pass legislation declaring most cryptocurrencies as non-securities, further approvals are unlikely. This is due to the SEC's stance that most cryptocurrencies are securities, leading the investment bank to question whether the SEC would approve such funds. The SEC's decisions on cryptocurrency ETFs are closely watched by the financial industry, as they can significantly impact the market.