Michael Saylor: SEC will designate Ethereum as a security and reject spot ETF applications in the summer

MicroStrategy Executive Chairman and Co-founder Michael Saylor believes that the SEC will classify Ethereum as a security this summer, and reject spot ETF applications submitted by several asset management companies including BlackRock. Saylor made this prediction in a social media post during his speech at the MicroStrategy World 2024 conference on May 2nd. He further predicted that other cryptocurrencies "under the stack" will also get unregistered names, including BNB, SOL, XRP and ADA. Saylor asserts that only Bitcoin has received full institutional recognition. He refers to BTC as a universal institutional-level crypto asset and states there won't be another one like it.