#Quick News# Golden Finance reported that Van Buren Capital partner and financial lawyer Scott Johnsson recently published an article on the X platform, revealing that the Ethereum spot ETF application documents show that it will be listed under the "commodity-based trust share" rule. Variant Fund Chief Legal Officer Jake Chervinsky interpreted this and said that if the US SEC approves the Ethereum spot ETF, it will have to admit that non-pledged ETH is not a security. This will be a major policy move by the SEC, which has previously refused to recognize any asset other than Bitcoin as a non-security commodity.