The MicroStrategy executive speculated that the SEC would consider Ether, BNB, Solana, XRP, and Cardano unregistered crypto asset securities.
MicroStrategy executive chair Michael Saylor speculated that the United States Securities and Exchange Commission (SEC) will deny listing and trading of spot Ether (ETH) exchange-traded funds.
Speaking at MicroStrategy’s Bitcoin For Corporations conference on May 1, Saylor said the SEC would label ETH as a crypto asset security under its regulatory purview and not a commodity under the U.S. Commodity Futures Trading Commission (CFTC). According to the MicroStrategy executive, the SEC could follow by treating tokens including BNB, Solana (SOL), XRP and Cardano (ADA) as “crypto asset securit[ies] unregistered.”
“None of [these tokens] will ever be wrapped by a spot ETF, none of them will be accepted by Wall Street, none of them will be accepted by mainstream institutional investors as crypto assets,” said Saylor.
