Crypto press (The Block) report on comments from Nikolaos Panigirtzoglou, managing director and global market strategist at JPMorgan, expressing scepticism that the U.S. Securities and Exchange Commission (SEC) will approve Solana and other crypto exchange-traded funds:

  • "We doubt. The decision by the SEC to approve ETH ETFs is already stretched given the ambiguity about whether Ethereum should be classified as security or not. We don't think 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"

More at that link above.

ETH has been on a rip since getting the big green tick of approval:

eth solana sec approval 28 May 2024 2