Future

Spot

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/sec-approves-spot-btc-and-eth-etfs-experts-speculate-on-future-approvals/" data-wpel-link="internal">SEC Approves Spot BTC and ETH ETFs, Experts Speculate on Future Approvals</a> 
The approval of the Spot BTC ETF was a 10-year dream, and a few months later, the SEC surprisingly approved an ETF for ETH. This move, indicating a change in the current US administration’s stance towards cryptocurrencies, raises the question of whether more approvals are on the horizon. Some experts have started to think so and suggest that Spot ETF launches could also happen for assets like XRP, ADA, and SOL. So, what does JPMorgan say? 
<h2 style="text-align: justify" id="xrp-ada-sol-etf">XRP, ADA, SOL ETF</h2> 
ETFs, which serve as a bridge between cryptocurrencies and traditional <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">markets</a>, have significant potential. In just a few months, BlackRock’s Bitcoin ETF has reached over $20 billion in size. Since the launch date on January 10, spot BTC ETFs have seen nearly $13 billion in net inflows. If this amount had directly flowed into BTC on <a href="https://en.coin-turk.com/rising-fraud-incidents-perturb-major-crypto-exchange-coinbase/" data-wpel-link="internal">cryptocurrency exchanges</a>, BTC would have surpassed $70,000. Inflows through the ETF channel increased the supply of BTC on exchanges, leading to the impressive rally period we saw in the first quarter. 
<img loading="lazy" loading="lazy" decoding="async" class="wp-image-288911 aligncenter" src="https://coin-turk.com/wp-content/uploads/2023/12/JPMorgan-Altcoin.jpeg" alt="" width="820" height="461"> 
Now, more is needed. Or, some experts want to believe that more will come. Because the SEC had to make a sudden 180-degree turn and approve the spot ETH ETF. So, what do JPMorgan experts say? JPMorgan is skeptical about the possibility of the United States Securities and Exchange Commission approving Solana and other cryptocurrency exchange-traded funds just because Ethereum ETFs were approved. 
<h2 style="text-align: justify" id="jpmorgan-and-cryptocurrency-etfs">JPMorgan and Cryptocurrency ETFs</h2> 
Nikolaos Panigirtzoglou, Managing Director and Global Market Strategist at JPMorgan, said today that this would not happen in an environment where the SEC has labeled most cryptocurrencies as securities. Gensler, in his latest statement last week, said, “One should not be prejudiced, but most altcoins are securities,” which was more moderate but consistent with his previous statements. 
Nikolaos said: 
<blockquote> 
 “We are skeptical. The SEC’s decision to approve ETH ETFs was not entirely impossible given the uncertainty about whether Ethereum would be classified as a security. We know that the SEC has a stronger view that tokens other than Bitcoin and Ethereum should be classified as securities. Therefore, we do not think the SEC will go further by approving Solana or other token ETFs.” 
</blockquote> 
According to him, if US officials can clarify which cryptocurrencies are securities, these ETF approvals are not impossible. If the recent FIT21 vote passes the Senate and Biden’s approval, the CFTC may label some altcoins as commodities. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/sec-approves-spot-btc-and-eth-etfs-experts-speculate-on-future-approvals/" data-wpel-link="internal">SEC Approves Spot BTC and ETH ETFs, Experts Speculate on Future Approvals</a></h5>

SEC Approves Spot BTC and ETH ETFs, Experts Speculate on Future Approvals

Table of Contents

COINTURK NEWS

Other articles published on May 27, 2024

Albart Token: The MVP of Euro 2024 Memes!

Analyst Predicts Ethereum Will Surpass Bitcoin

Injective (INJ), Polygon (MATIC) and One Additional Ethereum-Based Altcoin Flashing Bullish Signa...

Bitcoin Price Losing Steam: Market Momentum Slows Amid Trading Hesitation

Trader Who Made $2,000,000 from $1000 Shiba Inu (SHIB) Investment Bets Big on Retik Finance (RETI...

ONDO struggles to reach $2: Why $1.20 is a key level now

Join our free newsletter for daily crypto updates!