Opinion: SEC "strongly implies that ETH is a commodity rather than a security" in its ETH spot ETF approval order

According to BlockBeats, on July 21, Nate Geraci, president of The ETF Store, cited the views of the law firm Foley & Lardner LLP and pointed out that the most important progress of the US SEC in the approval order of the ETH spot ETF is that "the SEC strongly implies that ETH is a commodity rather than a security."

Furthermore, “the approval order suggests that crypto assets can start out as securities and transform into commodities over time.”