Saylor Predicts SEC Will Classify Ethereum as a Security and Reject Spot ETF Applications This Summer

Michael Saylor believes that this summer the SEC will classify Ethereum and other cryptocurrencies as securities and reject spot ETF applications from asset managers.

The market had been optimistic about the approval of Ethereum spot ETFs, but expectations have sharply declined in recent weeks. The critical date for the SEC’s decision is May 23.

Blockchain developer ConsenSys plans to legally compel the SEC to declare that ETH is not a security. A clear designation of ETH could impact the SEC’s approval of certain products, such as spot ETFs, and how companies handle ETH without proper registration.