JPMorgan believes that other ETFs, such as Solana’s (SOL), or Ripple’s XRP will not be approved by the SEC.
JPMorgan analyst Nikolaos Panigirtzoglou stated that the decision to approve an Ethereum (ETH) ETF ‘It is hard to tell if Ethereum should be classified a financial instrument or not, given that there are still ambiguities..’ Panigirtzoglou further added, ‘The SEC is unlikely to approve Solana ETFs or any other token-based exchange traded funds.‘
Can there be a Solana Spot ETF?
JPMorgan believes the SEC will approve ETFs in other countries if US lawmakers accept that crypto currencies are not securities. But there’s no law that says cryptocurrencies are not securities.
Some crypto enthusiasts have other opinions on the ETF crypto debate. Anthony Scaramucci is the founder of SkyBridge Capital and believes that we may soon see a Solana ETF. Scaramucci was also White House Director for Communications between July 21, 2017 and July 31, 2017.
Also Read: Solana: Anthony Scaramucci Predicts SOL ETF Next
Brian Kelly of BKCM also thinks that an SOL ETF could debut in the near future. Kelly claimed that Bitcoins, Ethereums, and Solanas are the major three in this current cycle.
Brad Garlinghouse, CEO of Ripple, said the recent approval of the Ethereum ETF (ETH) has opened up the possibility for other crypto-ETFs to be approved. Garlinghouse hinted that a XRP-based ETF could be in the works by liking similar comments on X.
Also Read: Solana vs Ripple’s XRP: Which Will Get an ETF First?
The SEC has not yet announced any official news on the addition of additional crypto ETFs. The US had been begging for spot ETFs since the beginning of crypto investing. The SEC granted 11 Bitcoin ETFs (BTC). After the SEC’s approval of the Ethereum ETFs back in May, it opened up the possibility for other crypto ETFs to be released in the future.
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Source: watcher.guru
