{"id":570924,"date":"2024-01-23T10:00:29","date_gmt":"2024-01-23T10:00:29","guid":{"rendered":"https:\/\/uniquehot.com\/?p=570924"},"modified":"2024-01-23T09:47:47","modified_gmt":"2024-01-23T09:47:47","slug":"jp-morgan-spot-ethereum-etfs","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ethereum\/jp-morgan-spot-ethereum-etfs\/","title":{"rendered":"JP Morgan Reveals Likelihood Of Spot Ethereum ETFs Getting Approved"},"content":{"rendered":"

Now that <\/span>Spot Bitcoin ETFs have been approved <\/span><\/a>by the United States Securities and Exchange Commission (SEC), the crypto space anticipates more ETFs to enter the market, particularly <\/span>Spot Ethereum ETFs.<\/span><\/a>\u00a0<\/span><\/p>\n

Despite this, analysts at JP Morgan, an American multinational financial service firm, have revealed a less than optimistic outlook for the potential approval of Ethereum Spot ETFs.\u00a0<\/span><\/p>\n

Ethereum Spot ETF Approval Prospects<\/h2>\n

In a note to clients issued on Thursday, January 18, JP Morgan analysts led by Nikolaos Panigirtzoglou, the Managing Director at the financial service firm, expressed their reservations regarding the anticipated <\/span>approval of Spot Ethereum ETFs<\/span><\/a> by the SEC.<\/span><\/p>\n

Related Reading: Crypto Analyst Predicts Cardano Price Will Climb 2,000% To Reach $11<\/a><\/div>\n

The analysts cited regulatory and judicial reasons as the basis for their prediction, asserting that the likelihood of Ethereum Spot ETF approval is no higher than 50%.\u00a0<\/span><\/p>\n

\u201cWhile we are sympathetic to the above arguments, we are skeptical that the SEC will classify ether as a commodity as soon as May,\u201d analysts at JP Morgan stated.\u00a0<\/span><\/p>\n

Just last week, the <\/span>SEC delayed<\/span><\/a> the approval of Fidelity\u2019s Ethereum Spot ETF. The regulator postponed its decision date to March 5, 2024, stating it needed more time to evaluate <\/span>Fidelity\u2019s application<\/span><\/a>. Additionally, the <\/span>deadline<\/span><\/a> for the SEC\u2019s final decision on the Spot Ethereum ETF applications extends from late January to August 2024.\u00a0<\/span><\/p>\n

The most decisive date that would give the crypto space a better outlook on the potential launch of these ETFs is January 25, the deadline for Grayscale\u2019s Ethereum Spot ETF application.\u00a0<\/span><\/p>\n

Earlier in June 2022, Grayscale <\/span>took legal action <\/span><\/a>against the SEC for its rejection of its Spot Bitcoin ETF. In August 2023, the asset management company <\/span>emerged victorious<\/span><\/a> in its lawsuit, after the US Columbia Court of Appeal ruled that the SEC was wrong to reject Grayscale\u2019s Bitcoin ETF application.\u00a0<\/span><\/p>\n

With the SEC\u2019s recent approval of Spot Bitcoin ETF after months of <\/span>legal and regulatory challenges<\/span><\/a>, many crypto enthusiasts <\/span>anticipate<\/span><\/a> a lengthy regulatory process before the potential approval of Spot Ethereum ETFs. If Ethereum Spot ETFs are accepted by the SEC, then it would offer investors an unprecedented opportunity to gain exposure to the cryptocurrency without the need to own it.\u00a0<\/span><\/p>\n

\"ETH<\/p>\n

ETH bulls lose control to bears | Source: ETHUSD on Tradingview.com<\/a><\/pre>\n
Why ETH Spot ETF Approval Hovers At 50%<\/h2>\n
Presently, the regulatory framework surrounding cryptocurrencies in the United States is still shrouded in uncertainty. This includes XRP, which <\/span>suffered a lawsuit<\/span><\/a> from the SEC after the regulator labeled it a security in 2020. Additionally, there have been many other cryptocurrencies the SEC has <\/span>identified as a security.\u00a0<\/span><\/a><\/p>\n
The potential approval of Ethereum Spot ETFs generally hinges on the SEC\u2019s classification of the digital asset, whether it is a commodity or a security. In January 2024, the regulatory agency <\/span>approved Ethereum futures ETFs<\/span><\/a>, \u2018implicitly\u2019 accepting Ethereum as a commodity.\u00a0<\/span><\/p>\n
Related Reading: Hold On For Four Months: Analyst Predicts When Bitcoin Price Will Reach New ATH<\/a><\/div>\n
If the SEC identifies Ethereum as a commodity, then the potential approval of an ETF application may be in sight. However, as JP Morgan analysts have stated, it may take a considerable amount of time before the SEC makes that decision.<\/span><\/p>\n
The regulatory agency has continually taken an <\/span>aggressive approach<\/span><\/a> in its regulation of cryptocurrencies in the US. Following the approval of Spot Bitcoin ETFs, SEC Chairman <\/span>Gary Gensler<\/span><\/a> publicly declared that the agency still does not approve or endorse Bitcoin, labeling all cryptocurrencies as investment contracts subject to federal securities laws.<\/span><\/p>\n
Featured image from Forbes, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Now that Spot Bitcoin ETFs have been approved by the United States Securities and Exchange Commission (SEC), the crypto space anticipates more ETFs to enter the market, particularly Spot Ethereum ETFs.\u00a0 Despite this, analysts at JP Morgan, an American multinational financial service firm, have revealed a less than optimistic outlook for the potential approval of Ethereum Spot ETFs.\u00a0 Ethereum Spot ETF Approval Prospects In a note to clients issued on Thursday, January 18, JP Morgan analysts led by Nikolaos Panigirtzoglou, the Managing Director at the financial service firm, expressed their reservations regarding the anticipated approval of Spot Ethereum ETFs by the SEC. Related Reading: Crypto Analyst Predicts Cardano Price Will Climb 2,000% To Reach $11 The analysts cited regulatory and judicial reasons as the basis for their prediction, asserting that the likelihood of Ethereum Spot ETF approval is no higher than 50%.\u00a0 \u201cWhile we are sympathetic to the above arguments, we are skeptical that the SEC will classify ether as a commodity as soon as May,\u201d analysts at JP Morgan stated.\u00a0 Just last week, the SEC delayed the approval of Fidelity\u2019s Ethereum Spot ETF. The regulator postponed its decision date to March 5, 2024, stating it needed more time to evaluate Fidelity\u2019s application. Additionally, the deadline for the SEC\u2019s final decision on the Spot Ethereum ETF applications extends from late January to August 2024.\u00a0 The most decisive date that would give the crypto space a better outlook on the potential launch of these ETFs is January 25, the deadline for Grayscale\u2019s Ethereum Spot ETF application.\u00a0 Earlier in June 2022, Grayscale took legal action against the SEC for its rejection of its Spot Bitcoin ETF. In August 2023, the asset management company emerged victorious in its lawsuit, after the US Columbia Court of Appeal ruled that the SEC was wrong to reject Grayscale\u2019s Bitcoin ETF application.\u00a0 With the SEC\u2019s recent approval of Spot Bitcoin ETF after months of legal and regulatory challenges, many crypto enthusiasts anticipate a lengthy regulatory process before the potential approval of Spot Ethereum ETFs. If Ethereum Spot ETFs are accepted by the SEC, then it would offer investors an unprecedented opportunity to gain exposure to the cryptocurrency without the need to own it.\u00a0 ETH bulls lose control to bears | Source: ETHUSD on Tradingview.com Why ETH Spot ETF Approval Hovers At 50% Presently, the regulatory framework surrounding cryptocurrencies in the United States is still shrouded in uncertainty. This includes XRP, which suffered a lawsuit from the SEC after the regulator labeled it a security in 2020. Additionally, there have been many other cryptocurrencies the SEC has identified as a security.\u00a0 The potential approval of Ethereum Spot ETFs generally hinges on the SEC\u2019s classification of the digital asset, whether it is a commodity or a security. In January 2024, the regulatory agency approved Ethereum futures ETFs, \u2018implicitly\u2019 accepting Ethereum as a commodity.\u00a0 Related Reading: Hold On For Four Months: Analyst Predicts When Bitcoin Price Will Reach New ATH If the SEC identifies Ethereum as a commodity, then the potential approval of an ETF application may be in sight. However, as JP Morgan analysts have stated, it may take a considerable amount of time before the SEC makes that decision. The regulatory agency has continually taken an aggressive approach in its regulation of cryptocurrencies in the US. Following the approval of Spot Bitcoin ETFs, SEC Chairman Gary Gensler publicly declared that the agency still does not approve or endorse Bitcoin, labeling all cryptocurrencies as investment contracts subject to federal securities laws. Featured image from Forbes, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":570932,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13625],"tags":[1944,89193,8379,91185,8323,89155,89213,1946,10384,7931,6931,8686,78803,2627,89242],"class_list":["post-570924","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-etf","tag-etf-news","tag-etfs","tag-etfs-news","tag-eth","tag-eth-etf","tag-eth-news","tag-ethereum","tag-ethereum-etf","tag-ethereum-news","tag-ethereum-price","tag-ethusd","tag-ethusdt","tag-jp-morgan","tag-jp-morgan-news"],"acf":[],"yoast_head":"\nJP Morgan Reveals Likelihood Of Spot Ethereum ETFs Getting Approved<\/title>\n<meta name=\"description\" content=\"Now that Spot Bitcoin ETFs have been approved by the SEC, the crypto 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During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. 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