JPMorgan analyst gives a 50% chance of spot Ethereum ETF approval occurring next May.
After the US Securities and Exchange Commission (SEC) approved spot Bitcoin exchange-traded fund (ETF) applications on January 10, all eyes turned to spot Ethereum ETFs.
Spot Bitcoin ETF succeeded in receiving approval BlackRock And Fidelity There are also applications for spot Ethereum ETF from giant companies such as. Although analysts have different opinions on the subject, the SEC’s opinion on spot Ethereum ETFs to make its first decision by May It will be necessary. This date is not the final decision date for the SEC and The possibility of postponement is also on the table is available.
from JPMorgan Nikolaos Panigirtzoglou In a statement to The Block, he said that the regulator’s approval of spot Ethereum ETF applications in May 50% chance He stated that it was. Panigirtzoglou, who estimates a half share for now, stated that the biggest obstacle to Ethereum is securities classification:
In our opinion, for the SEC to approve spot Ethereum ETFs in May, it will need to classify Ethereum as a commodity, similar to Bitcoin, rather than a security. However, the SEC still signals that it continues to view all cryptocurrencies other than Bitcoin as securities.
SEC Chairman making a statement following the approval of Spot Bitcoin ETF Gary Genslermany cryptocurrencies in security status He stated that it was the case and that it should be evaluated accordingly. of Ethereum whether it is a security or a commodity It was one of the long-standing debates.
US Commodity Futures Trading Commission (CFTC) Recently, Ethereum became a is commodity Although it has been expressed, no official step has been taken on this issue yet.