JPMorgan's MD doubts SEC approval of Solana ETFs due to regulatory stance on non-BTC/ETH tokens.

JP Morgan's managing director, Nikolaos Panigirtzoglou, expresses skepticism that the US Securities and Exchange Commission (SEC) will approve ETFs for cryptocurrencies like Solana, due to the regulatory body's stance that tokens outside of Bitcoin and Ethereum should be classified as securities. The SEC's recent approval of ETH ETFs has already been considered a stretch, given the ambiguity around Ethereum's classification.

May 27, 2024
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