Posted 1/19/2024, 10:37:00 AM
JPMorgan Sees Low Odds of Ethereum ETF Approval by May Deadline Despite Recent Optimism
- Probability of spot Ether ETF approval by May 23 SEC deadline is no more than 50%, according to JPMorgan
- Optimism has grown around potential approval due to Grayscale Ethereum Trust discount contracting, no ETH mention in SEC lawsuit, and approval of ETH futures ETFs
- JPMorgan skeptical of imminent ETH commodity classification needed for ETF approval
- Lawsuits against crypto exchanges offering staking services for proof-of-stake blockchains like Ethereum are a roadblock
- ETH price has surged recently amid speculation over ETF approval; would allow exposure without direct ownership