According to ChainCatcher, a blockchain data analysis platform, JPMorgan Chase (JPM) recently stated that the U.S. Securities and Exchange Commission (SEC)'s legal action against cryptocurrency exchanges may be an attempt to influence U.S. policymakers and legislators. They are expected to be responsible for formulating regulations for the cryptocurrency market in the future.

JPMorgan Chase further pointed out that since the futures-based Ethereum ETF has been approved, if the SEC refuses to approve the spot Ethereum ETF, it may face legal challenges and ultimately fail.

Previously, JPMorgan Chase also stated that the Wales Notice issued by the SEC to Robinhood Crypto is unlikely to hinder the final approval of the Ethereum spot ETF. This series of dynamics shows that although the SEC's regulatory attitude in the cryptocurrency market has become stricter, the market is still optimistic about the prospects of the Ethereum spot ETF.