JPMorgan analysts predict SEC scrutiny of Robinhood's crypto won't hinder Ethereum ETF approval due to SEC's stance on most cryptos not being securities.
JPMorgan analysts believe the SEC's scrutiny of Robinhood HOOD Crypto will not hinder the approval of spot Ethereum ETFs, despite Robinhood receiving a Wells notice from the SEC for potential enforcement related to its cryptocurrency operations. The analysts' confidence stems from ongoing efforts by the SEC to assert that most cryptocurrencies, except Bitcoin and Ether, should not be considered securities.
May 09, 2024
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