'Already Stretched': JPMorgan Doubts SEC Will Approve ETFs For SOL, Other Crypto

Will the SEC now approve a SOL ETF? An expert doesn't think it's possible -- at least not anytime soon. (Credit: IBT)

KEY POINTS

• JPMorgan's global market strategist said the issue on Ether's status as a security or commodity still hangs
• Other crypto ETFs may be approved if legislation declares that most digital assets aren't securities, he said
• SEC chief Gensler has already repeatedly refused to answer whether Ether is a security or not

Despite growing optimism in the digital assets industry, financial services titan JPMorgan doesn't see the U.S. Securities and Exchange Commission (SEC) approving spot exchange-traded funds (ETFs) for Solana (SOL) or other cryptocurrencies after the approvals for Bitcoin (BTC) and Ether (ETH).