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Home»ADOPTION NEWS»JPMorgan says the SEC will eventually approve a spot Ethereum ETF.
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JPMorgan says the SEC will eventually approve a spot Ethereum ETF.

By Crypto FlexsApril 5, 20243 Mins Read
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JPMorgan says the SEC will eventually approve a spot Ethereum ETF.
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Funding • April 5, 2024, 12:39 PM EDT

Posted 5 minutes ago In ~

“If there is no Ethereum ETF approval in May, we assume there will be litigation after May,” Nikolaos Panigirtzoglou, managing director and global markets strategist at JPMorgan, told The Block. “I think the most likely scenario is that the SEC ends up losing this lawsuit (similar to what happened with Grayscale and Ripple’s legal battle last year), which means the SEC will eventually approve a spot Ethereum ETF. This is probably ).”

Notably, Panigirtzoglou maintained the probability of approval in May at 50%, despite recent reports that the SEC is investigating the Ethereum Foundation and is actively seeking to classify Ether (ETH) as a security through legal means.

Earlier this week, Panigirtzoglou and his team said in a report that Ethereum’s easing of centralization issues (e.g. Lido’s declining market share) makes it more likely that ETH will not be designated as a security in the future. The team pointed out that network decentralization plays an important role in determining the security classification of digital tokens, as highlighted in the ‘Hinman Document’ released by the SEC last June.

Hopes for May approval waning

Several analysts have reduced optimism about the chances of the SEC approving a spot ether ETF by May. For example, last week Eric Balchunas, senior ETF analyst at Bloomberg, said the odds of approval in May remain pessimistic, at 25%, up from 70% in January.

The SEC is currently soliciting comments on a handful of spot ETH ETF applications, including Fidelity, Grayscale, and Bitwise. Comments on all three are due later this month.


Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.

About the author

Yogita Khatri is a senior reporter at The Block, covering all things cryptocurrency. As one of the original team members, Yogita has been instrumental in breaking numerous stories, exclusive articles, and scoops. With nearly 3,000 articles, Yogita holds the record as The Block’s most published and most read writer of all time. Before joining The Block, Yogita worked at cryptocurrency publications CoinDesk and The Economic Times, where she wrote about personal finance. To contact her, please send her email: (email protected) To see her latest works, follow her on X @Yogita_Khatri5.
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