PANews reported on May 24 that according to Cointelegraph, the approval of the Ethereum spot ETF by the U.S. Securities and Exchange Commission (SEC) may imply recognition of the non-securities attributes of Ethereum and other similar tokens. Bloomberg ETF analyst James Seyffart emphasized in the Bankless podcast that the approval of these commodity-based trust stocks means that the SEC will not regulate Ethereum as a security. Digital asset lawyer Justin Browder further pointed out that if the Ethereum ETF is approved by S-1, it will officially end the debate on whether ETH is a security. Adam Cochran, a partner at venture capital firm Cinneamhain Ventures, went a step further and believed that this way of thinking could be extended to tokens of other projects.
However, Bloomberg analyst Seyffart pointed out that although the SEC does not consider ETH as a security, pledged ETH may be defined as a security and may be pursued by the SEC. Digital asset lawyer Joe Carlasare also supports this view, believing that the SEC may continue to pursue individuals and pledge services after the launch of the ETF. In April of this year, Ethereum infrastructure company ConsenSys received a Wells notice from the SEC regarding MetaMask transactions and pledge services. Financial lawyer Scott Johnsson also pointed out that the SEC did not confirm the non-security status of Ethereum in its approval order, saying that it "completely avoided" the issue.
