{"id":79634,"date":"2024-05-27T13:52:32","date_gmt":"2024-05-27T17:52:32","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=79634"},"modified":"2024-05-27T13:53:15","modified_gmt":"2024-05-27T17:53:15","slug":"jpmorgan-doubts-sec-approval-of-xrp-sol-shib-etfs","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/jpmorgan-doubts-sec-approval-of-xrp-sol-shib-etfs\/","title":{"rendered":"JPMorgan Doubts SEC Approval of XRP, SOL, SHIB ETFs"},"content":{"rendered":"\n

JPMorgan doubts the SEC will approve XRP, SOL, and SHIB ETFs due to its strong view of most cryptocurrencies as securities<\/a>.<\/p>\n\n\n\n

\"JPMorgan<\/figure>\n\n\n\n

JPMorgan is cautious about the likelihood that the US SEC will approve comparable exchange-traded funds (ETFs) for Solana (SOL), XRP, and Shiba Inu (SHIB) amid recent positive developments in the space of crypto ETFs, which include the approval of 8 Ethereum ETFs.<\/p>\n\n\n\n

JPMorgan's Position On Crypto ETF Approvals<\/h2>\n\n\n\n

As an ongoing debate persists regarding the classification of Ethereum as a security, JPMorgan's managing director and global market strategist Nikolaos Panigirtzoglou characterized the SEC's recent approval of Ethereum ETFs as “extended.”<\/p>\n\n\n\n

Given that the SEC classifies most other cryptocurrencies as securities, Panigirtzoglou opined that the approval of ETFs associated with Solana and Shiba Inu would be improbable soon.<\/p>\n\n\n\n

\n

“We don't believe that the SEC would go even further by approving Solana or other token ETFs given the SEC has stronger (relative to Ethereum) opinion that tokens outside bitcoin and Ethereum should be classified as securities,” he explained.<\/p>\n<\/blockquote>\n\n\n\n

According to Panigirtzoglou, the possibility of additional products of this nature obtaining SEC approval<\/a> is contingent on US legislators passing legislation stating that most cryptocurrencies are not securities; however, such legislation currently lacks legislative support.<\/p>\n\n\n\n

Are XRP, SHIB ETFs Looming?<\/h2>\n\n\n\n

Simultaneously, the Shiba Inu community is advancing toward developing a specialized ETF. <\/p>\n\n\n\n

Shytoshi Kusama, an individual associated with the Shiba Inu ecosystem, reportedly utilized the social media platform X to congratulate Ethereum on the approval of its ETF and speculate on the potential creation of a SHIB ETF.<\/p>\n\n\n\n

Furthermore, on February 25, a change.org petition was submitted, imploring Michael Sonnenshein, the CEO of Grayscale Investments, to contemplate the introduction of an ETF dedicated to Shiba Inus. <\/p>\n\n\n\n

At this time, there is a growing demand for exchange-traded funds (ETFs) that monitor a variety of cryptocurrencies, including XRP and Solana.<\/p>\n\n\n\n

Likewise, Ripple (XRP) investors maintain a vigilant watch on the ongoing legal dispute between the SEC and Ripple, as it holds significant implications for advancing XRP-based financial instruments. <\/p>\n\n\n\n

However, legal concerns still\u00a0cloud the likelihood of an XRP ETF\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>, but the company's CEO, Brad Garlinghouse, is optimistic about its prospects.<\/p>\n\n\n\n

Other analysts, such as\u00a0Geoffrey Kendrick of Standard Chartered, believe the SEC does not consider tokens like XRP as\u00a0securities because they share technological similarities with ETH.<\/p>\n\n\n\n

\n

Will there be an XRP ETF in 2025 ?<\/p>— Vet \ud83c\udff4\u200d\u2620\ufe0f (@Vet_X0) May 24, 2024<\/use><\/svg><\/span><\/a><\/blockquote>

Simultaneously with the approval of Ethereum ETFs, discussions have emerged regarding the future of ETFs for other cryptocurrencies, including Solana and XRP. <\/p>\n\n\n\n

A validator of XRP Ledger conducted a survey that found that 66% of respondents anticipate the SEC will sanction an XRP ETF by 2025. <\/p>\n\n\n\n

Furthermore, Standard Chartered, which anticipates approval of both the SOL and XRP ETFs within the same calendar year, concurs with this approval.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

JPMorgan doubts the SEC will approve XRP, SOL, and SHIB ETFs due to its strong view of most cryptocurrencies as securities. JPMorgan is cautious about the likelihood that the US SEC will approve comparable exchange-traded funds (ETFs) for Solana (SOL), XRP, and Shiba Inu (SHIB) amid recent positive developments in the space of crypto ETFs, […]<\/p>\n","protected":false},"author":56,"featured_media":79639,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[18846,306,4267,146],"class_list":["post-79634","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-ethereum-etf-2","tag-shib","tag-sol","tag-xrp"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/05\/JPMorgan-Doubts-SEC-Approval-of-XRP-SOL-SHIB-ETFs.webp","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/79634","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/56"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=79634"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/79634\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/79639"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=79634"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=79634"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=79634"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}