Summary:
- JPMorgan's View: JPMorgan doesn't think the SEC will approve more crypto ETFs beyond Ethereum.
- SEC's Opinion: The SEC sees most cryptocurrencies as securities, making new approvals unlikely.
- Expert Insight: JPMorgan’s Nikolaos Panigirtzoglou says the SEC is stricter on tokens other than Bitcoin and Ethereum.
Details:
JPMorgan doubts the SEC will approve Solana and other cryptocurrency ETFs now that Ethereum ETFs have been approved. Nikolaos Panigirtzoglou, a strategist at JPMorgan, said the SEC's decision to approve Ethereum ETFs was surprising because of the uncertainty about whether Ethereum is a security. He thinks the SEC is even less likely to approve other crypto ETFs unless new laws are passed to say most cryptocurrencies are not securities. Currently, there are no such laws.
The SEC's recent approval of Ethereum ETFs came suddenly, with some analysts saying it was influenced by politics after long delays in discussions.
