Advisor to Giant Crypto Companies Speaks About Ethereum (ETH)!

Jake Chervinsky, general counsel of Variant and the Blockchain Association, thinks the SEC's approval of spot Ethereum ETFs proves that #ETH is no longer considered a security by regulators.

Jake Chervinsky believes that the SEC's decision ends the long-standing debate about whether ETH is a security or not.

Chervinsky, who recently made a detailed statement on the subject, said the following:

“ETFs are approved with the condition that staking operations are restricted due to the nature of Ethereum.

#ETH ETF investors will not be able to stake. This means that the SEC cannot consider Ethereum as a security.”

Jake Czerwinski believes that the approval of spot Ethereum ETFs is an important political step for the SEC, which had previously refused to recognize ETH as a commodity.

The decision to approve the Spot #Ethereum ETF was made by the SEC's Division of Trading and Markets, not members of the SEC's qualification committee. This approval decision also does not include the signature of SEC Chairman Gary Gensler.

The leading altcoin Ethereum (ETH) is trading at $3,840 at the time of writing our news. #ETH jumped 2% ahead of the weekly close.

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