Banking giant JPMorgan made a statement regarding the possibility of spot Ethereum exchange-traded funds (ETF) being approved by May.
US Securities and Exchange Commission (SEC) January 10 Following the approval of spot Bitcoin ETF applications on , the market’s attention turned to the decision regarding spot Ethereum ETF applications.
About subject Nikolaos Panigirtzoglou shared a report under the leadership of JPMorgan analyststhe spot Ethereum ETF applications in question They do not give more than a 50% chance of approval until May. he stated.
As a reason for this prediction, Ethereum such as proof of stake (PoS) against cryptocurrency cryptocurrencies Lawsuits filed by the SEC Analysts point out, Unless these cases are resolved He reminded that approval of an ETF is difficult:
Ongoing lawsuits by the SEC against crypto exchanges that offer staking services for PoS blockchains, including Ethereum, make spot Ethereum ETF approval more difficult, at least until these cases are resolved.
Companies that applied for a Spot Ethereum ETF were approved last year. There is no difference between futures Ethereum ETFs he pointed out. Especially the investment giant Fidelitywhich also came out of a court last year and opposed the SEC.Prove the difference between futures Ethereum ETFs and spot ETFs” he referred to the decision.
Recently SEC decision on Fidelity’s spot Ethereum ETF application postponed to March 5, 2024 he explained.
In the same report, JPMorgan analysts mentioned the 50% probability that investors From Grayscale Bitcoin Trust (GBTC) He stated that the pressure on Bitcoin may continue if it continues to make profit sales.