With the approval of Ethereum's ETF key industry 19b-4 documents,
Now more people are not only paying attention to the subsequent S-1, but also more people are paying attention to how the SEC determines the attributes of #ETH#, that is, securities/non-securities.
In fact, we only need to wait for the results of an S-1 to get this answer.
The S-1 form is usually used to register non-securities products, such as commodities or bulk products. Once the SEC passes the S-1 document review of any institution, it means that the SEC has recognized the non-securities attributes of Ethereum.
At the same time, I would like to mention here that if a fund's products are all composed of securities, the fund cannot apply for and pass the S-1 review under normal circumstances, unless there are special circumstances.
Then everyone is concerned about the category of Ethereum. Just wait for the S-1 results, but I don’t know if this will become a major obstacle to the S-1 review process?