JPMorgan Sees Spot ETH ETF Approval By May
JPMorgan is not confident that the Securities and Exchange Commission (SEC) will approve spot Ethereum ETFs in May, its first deadline to do so.
They believe that for the SEC to classify Ethereum as a commodity, similar to bitcoin, rather than a security, which is far from certain.
The SEC approved spot bitcoin ETFs earlier this week after over a decade of rejections. Traders are now betting that spot Ethereum ETFs could be next in line to get the green light, as the price of ether has surged nearly 20% in the last seven days compared to bitcoin’s gain of 2.5% during the same period.
However, the SEC continues to view all other cryptocurrencies outside bitcoin as securities. Some analysts, including Bloomberg Intelligence’s James Seyffart, are more optimistic that spot ETH ETFs will get approved.
(With inputs from Shikha Singh)
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