MicroStrategy CEO: SEC will classify ETH as security and reject related spot ETF applications

MicroStrategy CEO Michael Saylor said that this summer, the U.S. Securities and Exchange Commission (SEC) will classify Ethereum as a security and deny spot ETH ETF applications filed by asset managers, according to CryptoSlate. His prediction came during his speech at the MicroStrategy World 2024 Conference on May 2. Saylor called Bitcoin the "one universal” crypto asset that has full institutional acceptance. A well-known Bitcoin maximalist, he has asserted multiple times that ETH is a security.