Michael Saylor, a prominent Bitcoin advocate, shared his views on the future of cryptocurrencies like Ethereum and Ripple, stating that they may not gain institutional acceptance in the coming years. According to Saylor, regulators on Wall Street consider many altcoins as unregistered crypto asset securities.

During the annual Bitcoin for Corporations event, Saylor predicted that Ethereum, Solana, Ripple, and Cardano might not be approved for institutional use. He emphasized that the recent approval of a Bitcoin spot ETF indicated a shift in regulatory attitudes towards cryptocurrencies.

While some issuers have filed for spot Ethereum ETFs, the SEC has delayed these filings from companies like BlackRock and Fidelity. The regulatory body has also intensified its scrutiny of Ethereum, with reports suggesting that SEC Chair Gary Gensler views ETH as a security.

This crackdown comes amid Ethereum’s transition to a proof-of-work consensus, leading to investigations involving major stakeholders like Consensys and decentralized finance platforms like Uniswap.

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