📢 Bloomberg analyst James Seyffart attended a CryptoQuant webinar, suggesting that the U.S. SEC has implicitly treated Ethereum (ETH) as a commodity, increasing the likelihood of an Ethereum spot ETF approval within the year. He points out that the U.S. CFTC openly refers to ETH as a commodity, and the SEC has already approved an Ethereum futures ETF. However, SEC Chairman Gary Gensler has yet to definitively classify ETH as a security or commodity, but Seyffart believes it's unlikely the SEC will object to ETH's product classification. Concerns remain about whether staking will be permitted, he added. 🚀💼 #EthereumETFApprovalPrediction

🚨 The SEC's final deadline for the first spot ETH ETF is Wednesday, May 23.

VanEck's application will either be approved or denied on this date.

Will an #EthereumETF be approved this week? 🤔

#ETHETFS #VanEck #EthereumETFApprovalPrediction #TrendingTopic