Michael Saylor: SEC will classify ETH as a security this summer! Ethereum spot ETF vetoed

This site (120BTc.coM): Consensys, the parent company of Metamask, the popular little fox wallet in the currency circle, officially filed a lawsuit against the U.S. Securities and Exchange Commission (SEC) on April 26. , accused the SEC of intending to recognize Ethereum (ETH) as a security, criticized this as an "illegal seizure of power" over Ethereum, and once again triggered a fierce regulatory battle.

In this context, Michael Saylor, founder and executive chairman of MicroStrategy, predicted at the 2024 MicroStrategy World Annual Conference held on the 2nd that the U.S. Securities and Exchange Commission (SEC) will use Ethereum this summer. It is classified as a security and rejects Ethereum spot ETF applications from major asset management companies such as BlackRock.

Michael Saylor further analyzed that other cryptocurrencies will also be classified as unregistered securities by the SEC, including BNB, SOL, XRP and ADA: none of them will be wrapped in spot ETFs, nor will they be accepted by Wall Street …

Michael Saylor, who has always supported Bitcoin, insisted that only Bitcoin has been fully recognized by institutions. He said that Bitcoin is the “only universal” institutional-level crypto asset, and emphasized that “there will never be another one.” One."

Previously, MicroStrategy just announced its financial report for the first quarter of 2024, which showed that the company had spent a total of US$1.65 billion to purchase an additional 25,250 Bitcoins since the fourth quarter of last year. In addition to continuing to buy Bitcoin, MicroStrategy also Accelerating the construction of its Bitcoin application, it announced the launch of MicroStrategy Orange, a decentralized identity protocol based on the Bitcoin Ordinals protocol, on the 1st.

The probability of Ethereum spot ETF approval has dropped sharply

After the Bitcoin spot ETF was approved for listing in January this year, the market was initially optimistic about the approval of the Ethereum spot ETF, but in the past few years This week, the market’s optimistic expectations have dropped significantly. The chance of approval of the Ethereum spot ETF on the decentralized gaming platform Polymarket is only 10%. Bloomberg ETF analysts have lowered the approval chance from more than 80% to less than 30%. .

Currently, for the Ethereum spot ETF, the key date for approval is May 23, because this is the final approval deadline for VanEck’s application. It is expected that the SEC will decide at the same time whether other Ethereum spot ETFs can be approved. Approved or not.

Although Hong Kong takes the lead in the United States in releasing Ethereum spot ETFs, American financial lawyer Scott Johnsson believes that the SEC will reject the Ethereum spot ETF application this month, and there is a high probability that there will be no approval later this year.

Consensys, the parent company of Little Fox Wallet Metamask, filed a lawsuit with the SEC last month in an attempt to prevent the SEC from classifying Ethereum as a security. Consensys proposed four major reasons to support the argument that Ethereum should not be regarded as a security. Including mentioning that former SEC officials said in 2018 that Ethereum was not a security.

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