JPMorgan Skeptical About SEC Approval of Solana, Other Crypto ETFs
Portfolio Pulse from Ivan Crnogatić
JPMorgan's Nikolaos Panigirtzoglou expressed skepticism about the SEC approving additional cryptocurrency ETFs beyond Ethereum, citing concerns over the classification of most cryptocurrencies as securities. Despite the recent approval of spot Ethereum ETFs, the future of ETFs for cryptocurrencies like Solana remains uncertain.
May 27, 2024 | 8:00 pm
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POSITIVE IMPACT
Ethereum's recent ETF approval by the SEC is a significant milestone, but the approval of additional crypto ETFs, such as those for Solana, remains uncertain.
The approval of Ethereum ETFs is a positive development for Ethereum, but the uncertainty around further crypto ETF approvals could limit broader market impacts.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 70
NEUTRAL IMPACT
BlackRock is among the firms whose 19b-4 forms for Ethereum ETFs were approved by the SEC. However, the approval of additional crypto ETFs, such as those for Solana, remains uncertain.
BlackRock's involvement in the approved Ethereum ETFs is significant, but the uncertainty around further crypto ETF approvals could limit immediate positive impacts.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 50
NEUTRAL IMPACT
Grayscale's Ethereum ETF was approved by the SEC, but the future of additional crypto ETFs, including those for Solana, remains uncertain.
Grayscale's Ethereum ETF approval is a positive step, but the skepticism around further crypto ETF approvals could temper enthusiasm.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 50
NEGATIVE IMPACT
JPMorgan's skepticism about the SEC approving additional crypto ETFs, including Solana, casts doubt on the near-term prospects for Solana ETFs.
JPMorgan's skepticism about the SEC approving additional crypto ETFs, including Solana, could negatively impact Solana's near-term market sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 70