Banking giant JPMorgan has said the SEC will eventually approve spot Ethereum ETFs.
Nikolaos Panigirtzoglou, managing director and global market strategist at JPMorgan, recently told The Block. He said that the fate of spot Ethereum exchange-traded funds (ETF) is an inevitable approval by the SEC.
JPMorgan predicts a 50% chance of this approval coming within next May, but said the timing could get pushed back without affecting the outcome.
The U.S. Securities and Exchange Commission (SEC) recently initiated a comment period on a series of spot Ethereum ETFs.
If the approval does not come in May, JPMorgan suggests that a legal battle over Ethereum ETFs could begin, with the most likely scenario being that the SEC will lose and be forced to approve the ETFs, similar to its losses in lawsuits with Grayscale and Ripple last year.