JPMorgan: The possibility of the U.S. SEC approving an ETH spot ETF before May is less than 50%

According to CoinDesk, the possibility of the SEC approving a spot Ethereum (ETH) Exchange Traded Fund (ETF) five months ago was less than 50%. Analysts believe that it is uncertain whether Ethereum will be considered as a commodity. Nikolaos Panigirtzoglou, an analyst at JPMorgan Chase, expressed doubt about this. He said that although some people think that the SEC did not mention ETH in its lawsuit against cryptocurrency exchanges implies that the regulator may classify it as a commodity in the next few months, he is skeptical about this.

In addition, the report mentioned that the SEC is currently suing cryptocurrency exchanges providing Proof-of-Stake blockchain staking services for Ethereum and others. This could make approval of a spot ETF for Ethereum even more difficult.