The US Securities and Exchange Commission (SEC) is expected to make a decision on applications for the launch of exchange-traded crypto funds investing in Ether (ETH) at the end of May.
Bloomberg strategists are predicting that the US regulator will not legalize such an instrument.
According to analyst James Seyffart, the chances of these applications being approved are almost zero. Michael Saylor, the CEO of IT company MicroStrategy, has a stricter stance on the matter. He believes that spot Ethereum ETFs will never be available on the US stock market.
Saylor believes that the SEC will classify altcoins like Ethereum as securities, rather than commodities. He also predicts that other major cryptocurrencies such as Binance Coin (BNB), Solana (SOL), XRP, and Cardano (ADA) will also be considered unregistered securities by the SEC.
According to Saylor, Bitcoin remains the most reliable digital asset due to its limited supply and decentralized nature.
