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JPMorgan casts doubt on Ethereum ETF approval by May By

© Reuters

NEW YORK – The U.S. Securities and Exchange Commission’s (SEC) stance on an Ethereum-based exchange-traded fund (ETF) has become a topic of debate among financial analysts and major investment firms. Despite a widespread sense of anticipation, JPMorgan has expressed skepticism regarding the SEC’s approval of a spot ETF by May 2024 without Ethereum being classified as a commodity, similar to .

The SEC has maintained a cautious approach in the wake of approving Bitcoin ETFs. The commission’s particular concern lies with staking protocols associated with Ethereum, as these could lead to tokens being classified as securities, which would likely complicate the approval process.

Several major firms, including BlackRock (NYSE:) and Fidelity, have demonstrated their interest in the cryptocurrency space by filing for spot Ethereum ETFs. The market is closely watching these developments, as a decision on VanEck’s Ethereum ETF application is expected by May 23. The outcome of this decision is anticipated to significantly influence the regulatory landscape for Ethereum-based investment products.

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