SEC Approves First Ever Ethereum Spot ETF

Sharing is Caring!

The U.S. Securities and Exchange Commission (SEC) approved eight applications for spot Ethereum ETFs on Thursday, signaling Ethereum trading on Wall Street. Coinbase Chief Legal Officer (CLO) Paul Grewal affirmed that the SEC’s decision confirms Ethereum’s status as a commodity.

See also  Home Improvement Spending Plummets for the First Time Since 2009

Coinbase CLO: SEC Approval of Ethereum ETF Validates ETH as Commodity Paul Grewal expressed his views online, emphasizing the significance of the approval. He stated that Ethereum is now effectively recognized as a commodity, a belief long held by the crypto community. Grewal’s sentiments were echoed by Sigel, who highlighted that Ethereum’s decentralized nature classifies it as a commodity. This recognition is supported by various regulatory bodies, including the Commodity Futures Trading Commission (CFTC) and federal court rulings. The SEC’s approval of Ethereum ETFs further solidifies this stance.

See also  Ukraine 'fires first US missile into Russia' just days after President Joe Biden gave permission
Views: 166

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.