Home Crypto Saylor predicts SEC to designate Ethereum a security this summer and deny spot-ETF applications

Saylor predicts SEC to designate Ethereum a security this summer and deny spot-ETF applications

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Saylor predicts SEC to designate Ethereum a security this summer and deny spot-ETF applications



Michael Saylor, MicroStrategy’s executive chairman and cofounder, believes that the SEC is going to classify Ethereum this summer as a financial instrument and will reject spot ETFs filed by asset managers including BlackRock.

Saylor made a prediction on social media. May 2 He made the announcement during a MicroStrategy World 2024 presentation. He further predicted that other cryptos “down the stack” will also gain an unregistered security designation, including BNB, Solana (SOL), XRP, and Cardano (ADA).

Saylor said

“None of them will be wrapped by a spot ETF, none of them will ever be accepted by Wall Street…”

Saylor claimed that Bitcoin (BTC), alone, has institutional acceptance. He called BTC the “one universal” institutional-grade crypto asset and said “there won’t be another one.”

MicroStrategy’s founder is well-known for his exclusive focus on Bitcoin. Saylor’s statements come days after MicroStrategy said it added $1.65 billion of BTC to its corporate holdings in the first quarter and alongside the announcement of its Bitcoin-based decentralized identity (DID) product.

Critical ETH Decisions

The market initially viewed the approval of Ethereum spot ETFs with optimism, but the situation has changed.



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