J.P. Morgan analyst: The SEC's rejection of spot Bitcoin ETFs may trigger lawsuits

ChainCatcher news, according to The Block, analysts at JPMorgan led by Nikolaos Panigirtzoglou wrote in a report on Wednesday that if the U.S. Securities and Exchange Commission rejects the application for a spot Bitcoin exchange-traded fund, it may face legal action from the applicants. "Any rejection could trigger lawsuits against the SEC, bringing more legal troubles to the agency,"

Panigirtzoglou stated that while the likelihood of a rejection of the spot Bitcoin ETF application is low, "it is still possible."