Will There Be an ETF Rally in Solana and XRP? JP Morgan Announced!

In the USA, the SEC also approved Ethereum ETFs after approving Bitcoin ETFs. After the ETH ETF approval, eyes turned to other cryptocurrency ETFs such as #Solana (SOL) and #XRP , while a report came from JP Morgan.

According to The Block, JP Morgan said he does not think the SEC will approve Solana or other altcoin ETFs.

JPMorgan managing director and global market strategist Nikolaos Panigirtzoglou told The Block that they doubt the SEC will approve other altcoin #ETFs other than Ethereum, given its stance that most cryptocurrencies are securities.

At this point, Panigirtzoglou stated that he thinks there will be no more altcoin ETFs unless U.S. policymakers pass a law that recognizes most cryptocurrencies as non-securities.

“We have doubts that the SEC will approve any other altcoin ETF other than #Ethereum .

The SEC's decision to approve #ETH ETFs has already been relaxed given uncertainty about whether Ethereum should be classified as a security.

We don't think the SEC will go any further on the ETF issue by approving Solana or other token ETFs. Because we expect the SEC to classify altcoins other than Bitcoin and Ethereum as securities.”

$BTC $SOL $XRP