Galaxy executive: SEC may recognize that ETH itself is not a security, but the pledged ETH is a security

CoinVoice recently learned that Alex Thorn, head of research at Galaxy Digital, said on the X platform that if the speculation about the US SEC's 180-degree turn on the Ethereum ETF is true, they may try to find a balance between the following two: ETH itself is not a security, but the pledged ETH (or more far-fetchedly, the pledged ETH as a service) is a security.

This is broadly consistent with their various lawsuits and reports of investigations, and may allow the SEC to approve an Ethereum ETF while maintaining the views they have previously stated and argued. [Original link]