JP Morgan reiterates: The probability of spot Ethereum ETF being approved before May is no more than 50%

Although the market is optimistic about the approval of the spot Ethereum ETF before May 23 this year, JPMorgan Chase reiterated that the possibility of the spot Ethereum ETF being approved before May is no more than 50%. According to the investment bank, some believe the U.S. SEC’s decision not to mention ETH in its lawsuit against crypto exchanges for violating securities laws means the regulator could classify Ethereum as a commodity in the coming months. , which is a necessary condition for spot ETF approval. Others believe that the approval of an ETF based on Ethereum futures last September “in itself means that Ethereum is considered a commodity.” Analysts led by Nikolaos Panigirtzoglou said in a note to clients on January 18: “While we agree with the above view, we are skeptical that the SEC will classify Ethereum as a commodity as early as May. .” The report adds: “The SEC is filing lawsuits against cryptocurrency exchanges that provide staking services for proof-of-stake blockchains, including Ethereum, making the approval of spot Ethereum ETFs more challenging, at least for these That is until the lawsuit is resolved." (CoinDesk) According to previous news on January 13, JPMorgan Chase is not optimistic that the U.S. Securities and Exchange Commission will approve a spot Ethereum ETF in May, its first deadline for approving such funds, and believes that a spot Ethereum ETF will be available before May. The probability of approval is no more than 50%.