JPMorgan casts doubt on Ethereum ETF approval by May By Investing.com

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NEW YORK – The U.S. Securities and Trade Fee’s (SEC) stance on an Ethereum-based exchange-traded fund (ETF) has change into a subject of debate amongst monetary analysts and main funding companies. Regardless of a widespread sense of anticipation, JPMorgan has expressed skepticism relating to the SEC’s approval of a spot ETF by Might 2024 with out Ethereum being labeled as a commodity, just like .

The SEC has maintained a cautious strategy within the wake of approving Bitcoin ETFs. The fee’s specific concern lies with staking protocols related to Ethereum, as these may result in tokens being labeled as securities, which might seemingly complicate the approval course of.

A number of main companies, together with BlackRock (NYSE:) and Constancy, have demonstrated their curiosity within the cryptocurrency house by submitting for spot Ethereum ETFs. The market is carefully watching these developments, as a call on VanEck’s Ethereum ETF software is anticipated by Might 23. The result of this choice is anticipated to considerably affect the regulatory panorama for Ethereum-based funding merchandise.

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