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If Ethereum Isn't a Security, Then Cardano Certainly Isn't Either, and an ETH ETF approval will provide clarity for Cardano.
With the potential approval of an Ethereum ETF by the SEC, it basically implies that ETH is not considered a security. If that's the case, Cardano (ADA) should also not be classified as a security for two key reasons:
Decentralization: Cardano's proof-of-stake system is more decentralized than Ethereum. That's not an opinion. It's a fact. ADA is managed by numerous independent validators, ensuring no single entity has control over the network.
Launch Method: Unlike Ethereum's ICO, ADA was distributed through public sales and vouchers in Japan, ensuring a broad and fair distribution. This reduces the risk of ADA being seen as a fundraising mechanism like traditional securities.
So, if Ethereum isn't a security, Cardano isn't either.