SEC As it continues to increase its pressure on the cryptocurrency industry, its latest target is the US-based cryptocurrency platform robinhood happened.
At this point it was revealed that the SEC sent a Wells Notice to Robinhood in early May.
Final evaluation while discussing the possible effects of the SEC’s Wells Notice sent to Robinhood against the cryptocurrency industry JP MorganIt came from.
SEC Will Have to Approve Ethereum ETFs!
According to The Block, JP Morgan analysts said that the SEC’s Wells Notice sent to Robinhood Crypto spot Ethereum ETF’He said it was unlikely to block final approval.
JP Morgan analysts led by Nikolaos Panigirtzoglou said the SEC ETH He said that he will eventually make a decision about it, but that the SEC will not classify ETH as a security or commodity but will classify it in another ‘medium’ category.
Analysts also noted that it would not be a huge disappointment for the markets if the SEC rejected Ethereum ETFs in May, and the markets were not expecting approval this month anyway.
“In our view, the Wells notice does not appear to preclude the eventual approval of the spot Ethereum ETF by the SEC.
ETFs may not be approved as soon as May, however. If the SEC refuses to approve spot Ethereum ETFs, it will likely face litigation and eventually lose and be forced to approve.”
SEC Wells Notice Didn’t Directly Say Ethereum Is a Security!
JP Morgan analysts said the SEC did not explicitly state, nor imply, that Ethereum was not a security in its Wells Notice to Robinhood.
At this point, analysts say Robinhood Bitcoin (BTC) And Ethereum outside 13 altcoin Pointing out that it also offers trade services for , he said:
“We do not believe that the SEC’s notice to Robinhood implied that ETH was a security.
Because Robinhood not only facilitates trading on Bitcoin and Ethereum, but also 13 other tokens.
Ultimately, we think Ethereum’s status will likely be determined by legislation and the court. “We think there could ultimately be a ‘middle’ category for Ethereum, neither a commodity nor a security, but something in between.”
*This is not investment advice.
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