The United States Securities and Exchange Commission's recent Wells notice to Robinhood Crypto concerning alleged unregistered security offerings is unlikely to obstruct the potential approval of spot ether exchange-traded funds, according to JPMorgan.
Earlier this week, retail brokerage Robinhood said that its crypto unit had received a Wells notice from the SEC — indicating the regulator's expectation to file an enforcement action against the company over alleged securities violations. However, the SEC hasn't explicitly stated that ether is not a security. When asked if the Wells notice implies that, Panigirtzoglou told The Block in a separate statement:
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