The legal actions against crypto exchanges appear to be an attempt by the SEC to influence policy makers and legislators, the bank said.
JPMorgan said the SEC's legal actions against crypto exchanges appears to be an attempt by the agency to influence U.S. policy makers and legislators, who will be responsible for passing crypto market regulations at some point.
The Well's Notice issued to trading platform Robinhood by the SEC should not pose an obstacle to the eventual approval of spot ether exchange-traded funds, JPMorgan said.
The lack of approval of a spot ether ETF this month is unlikely to be a huge disappointment to markets as it was expected.
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