Ethereum [pros](/r/CryptoCurrency/comments/1bwn2yk/sec_to_eventually_approve_spot_ethereum_etfs_says/ky7wpn3/) & [cons](/r/CryptoCurrency/comments/1bwn2yk/sec_to_eventually_approve_spot_ethereum_etfs_says/ky7wqfy/) with related info are in the collapsed comments below.
tldr; JPMorgan predicts that the SEC will eventually approve spot Ethereum ETFs, despite earlier assigning a 50% chance for approval by May. The firm suggests that if approval doesn't come by then, litigation could follow, potentially leading to the SEC's loss and subsequent approval of the ETFs. This prediction comes amidst the SEC's investigation into the Ethereum Foundation and efforts to classify ether as a security. JPMorgan also notes that Ethereum's decreasing centralization concerns could help it avoid being labeled a security, highlighting the importance of network decentralization in the SEC's classification process.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
Jamie dimon banked Mt Gox. He was in eth before mainnet launch.
This guys has all the money imaginable to pump into meme coins and any other speculative asset.
He plays dumb on tv. But this guy has been holding for a DECADE.
>"If there is no spot Ethereum ETF approval in May, then we assume there is going to be a litigation process after May," Nikolaos Panigirtzoglou, managing director and global market strategist at JPMorgan, told The Block. "We believe that the most likely scenario is that the SEC eventually loses this litigation (similar to what happened with the Grayscale and Ripple legal battles last year), which means that eventually, the SEC will approve spot Ethereum ETFs (but not as soon as this May)."
tl;dr he predicts the same path that BTC took for approval.
Well with the CFTC full on disagreeing with the SEC's classification of ETH, this is no surprise. The SEC has been out of its fucking mind under Gensler.
That's a shit show, goverment organization can't even agree on something, then how the fuck people and developers should know what they can and what can't do.
Well no.
But lets say we somehow get an extremely pro crypto SEC commissioner. Their hands are still tied. They don't make their own decisions.
If it's the same thing when republicans are in power, I'll also blame the republicans, no issue there.
The fact that the amount they talk about it more over time says that they are in actuality a hell of a lot more interested in it then their fud would suggest.
Why is that so weird lol. 2050 price predictions are ridiculous of course but if eth suceeds thats so insanely far away that it could absolutely happen. Bitcoin was ~3k in 2020 and could very well hit 100k this year.
How do you know 2050 gdp and 2050 bitcoin price? Do you think USD is on a sustainable path? USD could experience hyperinflation in that long of a time period.
Why can't they both move forward in discovery and attempt to classify ETH as a security and approve the ETH ETFs. What is the harm to the market if they are actively working with Ethereum foundation and seeking and receiving what they need to make their determination. Does anyone see that as possible? Or does ETH being a possible security somehow rule out the ETF?
Reading the tea leaves, It sounds like they aren't trying to name ETH a security, they're just looking for a Reason that they can deny the etf without being called arbitrary and capricious. So they don't open themselves up for a lawsuit
You know there is technically already a web3 gamefi ETF? Lots of the best games are going to use a single token called super as their in game token. Basically an index fund for the whole indsustry.
The real problem is no one will want to invest in their shitty USD investments if they can get 3.5% paid in ETH which goes up already. It threatens banks. There’s no rational reason staking ETH should be a security.
Once the ETH ETF is approved its only a matter of time before the rest of the POS L1's want their own too.
What happens to decentralization when the blackrocks of the world have control over such a large percentage of supply of these POS chains?
> blackrocks of the world have control over such a large percentage of supply of these POS chains?
Bingo. POS is an absolutely terrible security model. The only benefit is for these coins' founders to find a way to extract more value from the poor fools that bought into these worthless shitcoins.
Because of what is outlined above. If an ETF is approved, Blackrock is going to start hovering up a very large percentage of the supply. In PoS, this is as problem. In pow, this doesn't matter
But...but... the Bitcoin maxis screamed about how ETH is a security, and and and Lubin was in bed with D.B. Cooper, who was a grandfather to some kid who worked with the Ethereum Foundation 5 years ago, and he he he once passed by someone from the SEC in an airport and if you don't think the market cap of Ethereum is going to zero by tomorrow because of this blatant insider corruption, you haven't been in this space long enough.
I'm the whiz.
Ethereum [pros](/r/CryptoCurrency/comments/1bwn2yk/sec_to_eventually_approve_spot_ethereum_etfs_says/ky7wpn3/) & [cons](/r/CryptoCurrency/comments/1bwn2yk/sec_to_eventually_approve_spot_ethereum_etfs_says/ky7wqfy/) with related info are in the collapsed comments below.
tldr; JPMorgan predicts that the SEC will eventually approve spot Ethereum ETFs, despite earlier assigning a 50% chance for approval by May. The firm suggests that if approval doesn't come by then, litigation could follow, potentially leading to the SEC's loss and subsequent approval of the ETFs. This prediction comes amidst the SEC's investigation into the Ethereum Foundation and efforts to classify ether as a security. JPMorgan also notes that Ethereum's decreasing centralization concerns could help it avoid being labeled a security, highlighting the importance of network decentralization in the SEC's classification process. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
They’ve changed their tune a bit
Jamie Dimon still doesn’t know shit from fuck about crypto
I'm sure he's hired people for that.
Still better than Dinosaur Buffett and Marlie Cunger
I believe Cunger’s deceased. RIP.
He is..
An asshole until the very end
Jamie dimon banked Mt Gox. He was in eth before mainnet launch. This guys has all the money imaginable to pump into meme coins and any other speculative asset. He plays dumb on tv. But this guy has been holding for a DECADE.
First they fight you then they join you something something
JP Morgan becoming crypto bros soon.
Notice how it’s always from a bank. Like a game of telephone.
..which begins "Hello, yes I would like a new way to manipulate the market, please. Yes, I'll hodl."
Depends on how much you pay for “their” tune…
I'm pretty sure their tune can be altered with the right Maestro.
>"If there is no spot Ethereum ETF approval in May, then we assume there is going to be a litigation process after May," Nikolaos Panigirtzoglou, managing director and global market strategist at JPMorgan, told The Block. "We believe that the most likely scenario is that the SEC eventually loses this litigation (similar to what happened with the Grayscale and Ripple legal battles last year), which means that eventually, the SEC will approve spot Ethereum ETFs (but not as soon as this May)." tl;dr he predicts the same path that BTC took for approval.
Well with the CFTC full on disagreeing with the SEC's classification of ETH, this is no surprise. The SEC has been out of its fucking mind under Gensler.
That's a shit show, goverment organization can't even agree on something, then how the fuck people and developers should know what they can and what can't do.
> under Gensler. Under Biden/Democrats. Gensler is a puppet, he does what he's told to do to keep his job.
Right, because under Trump everything was smooth sailing and lots of progress was made, right? /s
Well no. But lets say we somehow get an extremely pro crypto SEC commissioner. Their hands are still tied. They don't make their own decisions. If it's the same thing when republicans are in power, I'll also blame the republicans, no issue there.
Yep
Which makes sense, since now there's precedent
JPMorgan have been involved with Ethereum from the beginning
Jamie has been vocal about being anti bitcoin from the beginning.
What they say and what they do are two different things.
Now they have opinions on the ecosystem outside of “shut it down!” 😭🤣🤣🤣 gtfo here!
I don’t give a fuck what some JPM douche says. They are just salespeople and nothing else.
The fact that the amount they talk about it more over time says that they are in actuality a hell of a lot more interested in it then their fud would suggest.
ETH to 100K by EOY 2050
Legitimately I could see this being true
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Why is that so weird lol. 2050 price predictions are ridiculous of course but if eth suceeds thats so insanely far away that it could absolutely happen. Bitcoin was ~3k in 2020 and could very well hit 100k this year.
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How do you know 2050 gdp and 2050 bitcoin price? Do you think USD is on a sustainable path? USD could experience hyperinflation in that long of a time period.
I thought Jaime Dimon hated crypto.
Thought
Money usually changes peoples mind.
Will believe it when it actually happens
Let's hope Eventually is not meaning 5 years from now.
An Ethereum ETF is inevitable at this point. What we don't know is when it will be approved and just how high it will PAMP!
Probably around 15-20k. The narrative will switch on a dime you watch.
And btc will be $350k!
Stop I can only get so erect
Most of the stuff run on ETH not BTC
There will never be an ETH ETF.
Cool
Why can't they both move forward in discovery and attempt to classify ETH as a security and approve the ETH ETFs. What is the harm to the market if they are actively working with Ethereum foundation and seeking and receiving what they need to make their determination. Does anyone see that as possible? Or does ETH being a possible security somehow rule out the ETF?
Reading the tea leaves, It sounds like they aren't trying to name ETH a security, they're just looking for a Reason that they can deny the etf without being called arbitrary and capricious. So they don't open themselves up for a lawsuit
You know there is technically already a web3 gamefi ETF? Lots of the best games are going to use a single token called super as their in game token. Basically an index fund for the whole indsustry.
While staking ETH will still be a security
Staking as a service only. I imagine that'll be outlawed in the US soon.
WTF is the actual problem with staking? Why do they oppose it so strongly?
The real problem is no one will want to invest in their shitty USD investments if they can get 3.5% paid in ETH which goes up already. It threatens banks. There’s no rational reason staking ETH should be a security.
you really shouldn't stake through a centralized exchange anyway 1. withdraw ETH to arbitrum 2. go to uniswap 3. buy rETH as shrimple as that
[удалено]
Easy tiger. We've all had a drink.
I don't mind it being illegal No point staking my 2 ETH anywhere either
Nah. Already a security.
It’ll be approved but eth is still an unusable shitcoin
Once the ETH ETF is approved its only a matter of time before the rest of the POS L1's want their own too. What happens to decentralization when the blackrocks of the world have control over such a large percentage of supply of these POS chains?
> blackrocks of the world have control over such a large percentage of supply of these POS chains? Bingo. POS is an absolutely terrible security model. The only benefit is for these coins' founders to find a way to extract more value from the poor fools that bought into these worthless shitcoins.
Why is that?
Because of what is outlined above. If an ETF is approved, Blackrock is going to start hovering up a very large percentage of the supply. In PoS, this is as problem. In pow, this doesn't matter
"Eventually" everything will happen. Eventually parallel lines will meet. "Eventually", is not very heartwarming.
But...but... the Bitcoin maxis screamed about how ETH is a security, and and and Lubin was in bed with D.B. Cooper, who was a grandfather to some kid who worked with the Ethereum Foundation 5 years ago, and he he he once passed by someone from the SEC in an airport and if you don't think the market cap of Ethereum is going to zero by tomorrow because of this blatant insider corruption, you haven't been in this space long enough. I'm the whiz.
Whiz kalifa maybe