According to the Coinbase official, the SEC has no valid justification for rejecting Ethereum spot ETFs.
Although the cryptocurrency market is taking a break, the issue of Ethereum spot ETFs remains a delicate subject, facing regulatory challenges.
The SEC's ongoing investigation into the Ethereum Foundation is seen by some analysts as an attempt to justify possible denial during the pending approval.
However, Coinbase's legal chief refuses to be intimidated by Gary Gensler and says the SEC has no valid reason to block these ETFs.
This regulatory impasse throws the chances of approval of Ethereum spot ETFs into uncertainty, which irritates players in the cryptocurrency market, who regularly face hostility from the SEC.
Coinbase's Paul Grewal clearly disagrees, pointing to Gary Gensler's regulatory reversals regarding ETH.
Furthermore, the announcement of the launch of a Dogecoin (DOGE) futures contract by Coinbase is strategic, illustrating efforts to circumvent regulatory hurdles and pursue innovation in the cryptocurrency space.