SEC to Eventually Approve Spot Ethereum ETFs, Says JPMorgan

JPMorgan remains optimistic about the Securities and Exchange Commission's eventual approval of spot Ethereum ETH/USD exchange-traded funds despite earlier this year assigning not more than a 50% chance for approval by May, the initial deadline. "If there is no spot Ethereum ETF approval in May, then we assume there is going to be a litigation process after May" Nikolaos Panigirtzoglou, managing director and global market strategist at JPMorgan, told The Block. "We believe that the most likely scenario is that the SEC eventually loses this litigation (similar to what happened with the Grayscale and Ripple legal battles last year), which means that eventually, the SEC will approve spot Ethereum ETFs (but not as soon as this May)."

Read the full story at The Block.