BlockBeats news, May 27, according to The Block, Nikolaos Panigirtzoglou, managing director and global market strategist at JPMorgan Chase, said that given that the SEC believes that most cryptocurrencies are securities, the investment bank doubts whether the SEC will approve altcoin ETFs other than Bitcoin and Ethereum. Panigirtzoglou said: "The SEC's decision to approve the ETH ETF is already too far-fetched. We believe that the SEC will not further approve Solana or other token ETFs because the SEC believes more strongly (relative to Ethereum) that tokens other than Bitcoin and Ethereum should be classified as securities." Panigirtzoglou added that unless U.S. policymakers ultimately pass legislation that determines that most cryptocurrencies are not securities, the SEC may approve other cryptocurrency ETFs, Panigirtzoglou said. But he said there is no such legislation yet.