Ether (ETH) has surged back above $3,500 following news that the US Securities and Exchange Commission (SEC) is closing its investigation into whether ETH is a security. The announcement from Consensys, a blockchain technology company, sparked a 1.4% price jump for ETH within 20 minutes, breaking the crucial $3,500 level. This development is seen as a significant win for Ethereum, potentially easing investor concerns over potential securities law violations. The news also follows the SEC's approval of spot Ether exchange-traded funds (ETFs) in the US last month.