Home NewsAltcoin JPMorgan Cautious on SEC’s May Deadline for Spot Ethereum ETFs Approval

JPMorgan Cautious on SEC’s May Deadline for Spot Ethereum ETFs Approval

by Ouess

JPMorgan is cautious about the Securities and Exchange Commission’s (SEC) approval of spot Ethereum exchange-traded funds (ETFs) in May.

JPMorgan’s Nikolaos Panigirtzoglou suggests that for the SEC to greenlight spot Ethereum ETFs, Ethereum needs to be classified as a commodity rather than a security, a classification not guaranteed by May.

Despite the recent approval of spot bitcoin ETFs, Panigirtzoglou notes that the SEC still views non-bitcoin cryptocurrencies as securities.

JPMorgan had previously proposed placing ether into a distinct category to avoid security classification. While some are optimistic, including Bloomberg Intelligence’s James Seyffart, the outcome remains uncertain.

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