TechFlow news, according to The Block, JPMorgan expects the U.S. Securities and Exchange Commission (SEC) will not approve any other cryptocurrency ETFs after spot Ethereum ETFs.
Nikolaos Panigirtzoglou, Managing Director and Global Market Strategist at JPMorgan, said that given the SEC's view that most cryptocurrencies are securities, the bank is skeptical about whether the SEC would approve such funds. "We are skeptical. The SEC's decision to approve an ETH ETF was already a stretch, considering the ambiguity around whether Ethereum should be classified as a security. We believe the SEC will not go further to approve ETFs for Solana or other tokens, as the SEC holds a stronger view—relative to Ethereum—that tokens other than Bitcoin and Ethereum should be classified as securities,"
Of course, unless U.S. policymakers ultimately pass legislation deeming most cryptocurrencies as non-securities, the SEC might approve other cryptocurrency ETFs, Panigirtzoglou noted. However, he added that no such legislation currently exists.
