News View Non-AMP

Microstrategy’s Saylor Slams Ethereum With “Security” Label As SEC Scrutiny Delays ETF Launch

Published by
Debashree Patra

Michael Saylor, the executive chairman of MicroStrategy, made bold statements regarding Ethereum, categorizing it as a crypto asset security rather than a commodity.

Saylor’s viewpoint extended beyond Ethereum, as he expressed doubt about several altcoins, including BNB, Solana, XRP, and Cardano, suggesting they might struggle to secure approval for a spot ETF from the US SEC. He emphasized Bitcoin as the “singular universal” choice for institutional investments, foreseeing limited institutional acceptance for other cryptocurrencies.

Needless to say, these controversial statements have ruffled some feathers! Read on to know more.

Saylor’s Bitcoin Bias: Ethereum Under Fire

Saylor’s stance, especially regarding Ethereum, sparked debate. It highlighted MicroStrategy’s strong backing of Bitcoin, demonstrated by its recent addition of $1.65 billion worth of BTC to its corporate reserves in the first quarter. Additionally, MicroStrategy’s development of Bitcoin-based products like the MicroStrategy Orange decentralized identity (DID) product solidified its allegiance to the Bitcoin ecosystem.

Wall Street Faces a Tough Time

While financial giants like BlackRock and Fidelity have expressed interest in an Ethereum ETF, regulatory concerns loom large. The SEC’s ongoing investigation into Ethereum’s security status complicates matters. ConsenSys has escalated the issue by suing the SEC to reclassify Ethereum.

Regulatory uncertainties and legal battles pose significant obstacles to the launch of spot Ethereum ETFs.

Spot Ethereum ETFs Hang in the Balance

Spot Ethereum ETFs could provide Wall Street firms and investors with indirect exposure to ETH, offering an alternative to dealing with crypto exchanges or managing digital wallets. Despite Hong Kong’s recent approval of a spot Ethereum ETF, the fate of such products in the US hinges on regulatory clarity from the SEC.

Bloomberg analyst James Seyffart believes an Ethereum ETF is unlikely in 2024 but may be possible in 2025. Given the lack of positive signs, an SEC approval of spot ETH ETFs in May seems improbable.

Ethereum Price Analysis

Ethereum’s price has fluctuated, hovering around $3,000 after dipping to $2,816 recently. While market swings have caused uncertainty, analysts are optimistic that ETH won’t remain below the range of $2,852 to $3,300 for long.

Will Ethereum ever overcome the security hurdle and see a spot ETF? Only time will tell.

Also Check Out : What Next For Bitcoin (BTC) and Ethereum (ETH) Price?

Debashree Patra

Fun-loving and cheerful, a passionate blockchain and crypto writer who knows no boundary…connect if you share the same passion. With 10+ years of writing experience, I am a Crypto Journalist by chance, exploring, and learning all the dynamics of the sci-fi action-filled crypto world. Currently, focusing on cryptocurrency news and price data. With a passion for research and challenging my capabilities, I am slowly getting into the crypto arena to bring new insights every day.

Recent Posts

Fed Rate Cut Decision in Focus Amid Crypto Volatility and Recession Fears

Crypto markets experienced sharp ups and downs on Wednesday and Thursday ahead of President Trump’s…

April 4, 2025

Zoomex Review: The New Crypto Exchange with Many User-Focused Features

Since launching in 2021, Zoomex has quickly made a name for itself as a crypto…

April 4, 2025

Bitcoin Price Prediction 2025- BTC Price May Revamp Bull Run Only After Reaching These Levels

The crypto markets were heavily consolidating ahead of Trump’s Liberation Day, where new tariffs were…

April 4, 2025

Ripple Lawsuit Ends: Pro-XRP Lawyer John Deaton Revisits XRP Delisting Amid Coinbase Futures Filing

In a major development for the crypto market, Coinbase Derivatives has filed with the Commodity…

April 4, 2025

Nomy Finance’s Venture Division Surpasses $691 Million in Assets Under Management, Fueling Blockchain Innovation

Nomy Finance has announced that its venture division has surpassed $691 million in assets under…

April 4, 2025

XRP Price Prediction 2025, 2026-2030: When Will XRP Hit $3?

Story Highlights The XRP Price LIVE: . The price could hit a high of $3.99…

April 4, 2025