JPMorgan: U.S. SEC May Face Legal Challenges And Eventual Loss If It Refuses To Approve Spot Ether ETFs

JPMorgan Chase (JPM) said the Wells notice issued by the U.S. Securities and Exchange Commission (SEC) to trading platform Robinhood (HOOD) should not pose a barrier to the final approval of the Spot Ether ETF. JPMorgan said the SEC's legal action against cryptocurrency exchanges appears to be an attempt by the agency to influence U.S. policymakers and lawmakers, who will be responsible for passing cryptocurrency market regulations at some point. The SEC could face a legal challenge and eventual failure if it refuses to approve the Spot Ether ETF.