Spot Ethereum ETF Approval on the Horizon: JPMorgan’s Predictions Amid SEC Litigation
JPMorgan, a global investment bank, foresees potential approval of spot Ethereum exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC).
However, they assess the likelihood of approval in May at 50%, anticipating potential litigation if the SEC rejects an Ethereum ETF application by then. Nikolaos Panigirtzoglou, a managing director at JPMorgan, suggests that a litigation process may follow if approval doesn’t happen in May, with eventual approval expected in the future. The SEC is currently reviewing proposed rule changes for Bitwise Ethereum ETF, Grayscale Ethereum Trust, and Fidelity Ethereum Fund, while Blackrock also has an application pending.
Despite some analysts revising approval odds downward, some still believe in a May approval, citing potential price surges for Ethereum if approved. The SEC’s stance on Ethereum’s classification as a security or commodity remains a key concern for market.
Clever Robot News Desk 9th April 2024