JP Morgan analysts have expressed skepticism regarding the likelihood of a Solana ETF being approved, attributing their doubts to recent regulatory actions by the United States Securities and Exchange Commission (SEC) concerning the cryptocurrency industry.<\/p>\n
In light of the SEC\u2019s approval of Spot Bitcoin ETFs and Ethereum Spot ETFs earlier this year, JP Morgan\u2019s managing director and global market strategist, Nikolaos Panigirtzoglou, has voiced reservations about the potential authorization of a Solana ETF. He highlighted the SEC\u2019s recent enforcement measures in the crypto space as a key hurdle.<\/p>\n
Pointing to the SEC\u2019s unclear stance on cryptocurrencies and its implied view of them as securities, Panigirtzoglou cast doubt on the possibility of a Solana ETF gaining approval. According to him, the SEC is unlikely to extend approval beyond Bitcoin and Ethereum, indicating a reluctance to classify other altcoins as non-securities.<\/p>\n
Despite speculations surrounding the approval of additional crypto ETFs following the endorsement of Bitcoin and Ethereum products, Panigirtzoglou believes that legislative action designating cryptocurrencies as non-securities is necessary for a Solana ETF to be considered.<\/p>\n
Contrasting JP Morgan\u2019s stance, analysts at Standard Chartered Bank anticipate broader crypto ETF approvals, including a potential Solana ETF by 2025. Geoffery Kendrick, the bank\u2019s head of forex and digital assets research, suggested that the SEC\u2019s approval of an Ethereum Spot ETF signifies a shift away from classifying Ethereum as a security, potentially benefiting cryptocurrencies like Solana and XRP.<\/p>\n
Kendrick noted the similarities in core technologies between Ethereum and other altcoins, making it challenging for the SEC to maintain a securities classification for those assets. He emphasized that this resemblance could lead to increased consideration and approval of various crypto ETFs by regulatory authorities.<\/p>\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
JP Morgan analysts have expressed skepticism regarding the likelihood of a Solana ETF being approved, attributing their doubts to recent regulatory actions by the United States Securities and Exchange Commission (SEC) concerning the cryptocurrency industry. JP Morgan Questions Feasibility of Solana ETF In light of the SEC\u2019s approval of Spot Bitcoin ETFs and Ethereum Spot […]<\/p>\n","protected":false},"author":1,"featured_media":12666,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"slim_seo":{"title":"Analysis: JP Morgan Casts Doubt on Solana ETF Possibility Due to SEC Actions - Bitrabo","description":"JP Morgan analysts have expressed skepticism regarding the likelihood of a Solana ETF being approved, attributing their doubts to recent regulatory actions by t"},"footnotes":""},"categories":[316],"tags":[2392,1923,3657,682,1019,4454,1213],"class_list":["post-12665","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-dream","tag-etf","tag-expectations","tag-heres","tag-morgan","tag-pipe","tag-solana"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/12665","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/comments?post=12665"}],"version-history":[{"count":0,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/12665\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media\/12666"}],"wp:attachment":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media?parent=12665"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/categories?post=12665"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/tags?post=12665"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}