According to BlockBeats, on July 21, Nate Geraci, President of The ETF Store, cited the perspective of law firm Foley & Lardner LLP, highlighting a significant development in the U.S. SEC's approval order for an Ethereum (ETH) spot ETF. The most crucial aspect noted is the SEC's strong implication that ETH is considered a commodity rather than a security.

Additionally, the approval order indicates that crypto assets can initially be classified as securities and may transition into commodities over time.