JPMorgan: The SEC may face legal challenges and ultimately lose if it refuses to approve a spot Ethereum ETF

ChainCatcher news, JPMorgan (JPM) stated that the legal actions taken by the U.S. Securities and Exchange Commission against cryptocurrency exchanges seem to be an attempt by the agency to influence U.S. policymakers and legislators, who will eventually be responsible for passing regulations for the cryptocurrency market. Since the futures-based Ethereum ETF has already been approved, the U.S. Securities and Exchange Commission may face legal challenges and ultimately fail if it rejects the approval of a spot Ethereum ETF.

Previous news, JPMorgan stated that the Wells notice issued by the U.S. Securities and Exchange Commission (SEC) to Robinhood Crypto is unlikely to hinder the eventual approval of the spot Ethereum ETF.