JPMorgan, through its managing director Nikolaos Panigirtzoglou, expressed skepticism about the SEC approving ETFs for Solana (SOL), XRP, and Shiba Inu (SHIB). This cautious stance follows the recent approval of eight Ethereum ETFs by the SEC.
Despite the excitement around these developments, Panigirtzoglou highlighted that the SEC’s classification of most cryptos as securities makes it unlikely for SOL and SHIB ETFs to be approved soon. He emphasized that legislative changes would be necessary for broader ETF approvals.
The Shiba Inu community is actively pursuing a SHIB ETF, with notable efforts including a petition on change.org. Meanwhile, Ripple (XRP) investors are keenly observing ongoing legal battles that may influence future XRP ETFs.
Interestingly, a poll revealed that 66% of participants expect an XRP ETF approval by 2025, a view supported by Standard Chartered. This could potentially reshape the crypto ETF landscape if the SEC’s stance evolves.
These developments underscore the significant and ongoing interest in expanding crypto ETF options, which may lead to strategic shifts in the market.
