The US SEC unexpectedly approved the Ethereum ETF, and Bernstein analysts believe that the credibility of the political narrative has decreased

According to Odaily Planet Daily, Bernstein analysts said that after US President Joe Biden vetoed the SAB 121 repeal bill, the credibility of the changing political narrative behind the US SEC's unexpected approval of the Ethereum ETF has decreased. They added that Biden's veto of the bill to repeal SAB 121 showed that the US SEC's decision was more pragmatic to avoid legal disputes.