JPMorgan, a well-known financial services company, is hopeful that the Securities and Exchange Commission (SEC) will approve spot Ethereum ETFs in the future. Despite an initial prediction of only a 50% chance of approval by May, JPMorgan remains positive about the outcome.

Nikolaos Panigirtzoglou, Managing Director and Global Market Strategist at JPMorgan, shared his perspective. He mentioned that if the spot Ethereum ETF is not approved in May, there might be legal action taken after the deadline.

Panigirtzoglou believes that the SEC is likely to lose the case, similar to the outcomes of past legal battles with Grayscale and Ripple. This indicates that spot Ethereum ETFs will eventually receive approval from the SEC, albeit not by May.

Panigirtzoglou's outlook is interesting, as he maintains a 50% probability of approval in May, despite recent reports of the SEC investigating the Ethereum Foundation and exploring the classification of Ethereum (ETH) as a security. In a recent report, JPMorgan highlighted Lido Finance's efforts in mitigating Ethereum's centralization concerns as a factor that could prevent ETH from being classified as a security in the future.

*Please note that this information does not constitute investment advice.