JPMorgan, a leading global financial services firm, is subject to Securities and Exchange Commission (SEC) spot Ethereum He expressed optimism that his ETFs would eventually be approved.
This was despite the company previously predicting only a 50% chance of approval by May, the original deadline.
Nikolaos Panigirtzoglou, Managing Director and Global Market Strategist at JPMorgan, shared his views. “If there is no spot Ethereum ETF approval in May, we assume there will be litigation after May,” he said.
Panigirtzoglou believes the most likely scenario is that the SEC will lose this case, as it did in the Grayscale and Ripple legal battles last year. This means the SEC will eventually approve spot Ethereum ETFs, but not as soon as May.
Interestingly, Panigirtzoglou kept the probability of May approval at 50%, despite recent reports suggesting that the SEC is investigating the Ethereum Foundation and seeking to legally classify Ethereum (ETH) as a security.
Earlier this week, Panigirtzoglou and his team highlighted in a report that Lido Finance’s mitigation of Ethereum’s centralization concerns, such as declining market share, raises the possibility that ETH will avoid designation as a security in the future.
*This is not investment advice.
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