Former CEO of MicroStrategy, Michael Saylor, believes that the SEC will classify Ethereum as a security this summer and reject the corresponding applications for spot ETFs. In his opinion, only BTC has full institutional recognition, calling it the “only universal” institutional-level crypto asset

He believes that other cryptocurrencies will also receive unregistered status, including BNB, Solana, XRP, and Cardano.

“None of them will be wrapped by a spot ETF, none of them will ever be accepted by Wall Street…” he says.

Saylor’s remarks came as many experts expressed concerns about whether the SEC will approve the listing and trading of spot Ether ETFs on U.S. exchanges. The first significant deadlines for ETF applications from VanEck and ARK Invest will be May 23 and May 24, respectively.

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source: https://36crypto.com/coinbase-ceos-optimism-how-layer-2-scaling-solutions-are-shaping-cryptos-future/