International monetary establishment JPMorgan doesn’t imagine that the SEC (Securities and Change Fee) will approve different crypto ETFs (Change Traded Funds), reminiscent of Solana (SOL) or Ripple’s XRP.
JPMorgan analyst Nikolaos Panigirtzoglou said that the choice to approve an Ethereum (ETH) ETF ‘is already stretched given the anomaly about whether or not Ethereum needs to be categorised as safety or not.’ Panigirtzoglou additional added, ‘We don’t suppose the SEC would go even additional by approving Solana or different token ETFs.‘
Is there no room for a Solana (SOL) spot ETF?
The JPMorgan analyst believes that the SEC may approve different ETFs if US policymakers settle for that cryptocurrencies aren’t securities. Nonetheless, there is no such thing as a such laws accepting cryptocurrencies as non-securities.
Nonetheless, different crypto proponents have opposing beliefs within the crypto ETF debate. In accordance with Anthony Scaramucci, founding father of SkyBridge Capital, we may get a Solana (SOL) ETF quickly. Scaramucci additionally served as White Home Director of Communications from July 21 to July 31, 2017.
Brian Kelly, founding father of BKCM, additionally believes {that a} SOL ETF will make its debut quickly. Kelly said that Bitcoin, Ethereum, and Solana are the massive three of this cycle.
Moreover, Ripple CEO Brad Garlinghouse mentioned that the approval of an Ethereum (ETH) ETF has opened the opportunity of different crypto ETFs being authorized. Garlinghouse has additionally hinted at a attainable XRP ETF by liking feedback about the identical on X.
Nonetheless, there is no such thing as a official phrase on further crypto ETFs by the SEC. Crypto traders had lengthy prayed for a spot ETF within the US. Their prayers have been answered earlier this yr when the SEC authorized 11 spot Bitcoin (BTC) ETFs. Then in Could, the SEC authorized the Ethereum ETFs, opening the dialogue for extra crypto ETFs sooner or later.
