The SEC’s decision to approve spot Ether ETFs means Ether and “a lot” of other tokens can no longer be labeled as potential securities, pundits say.
That doesn’t mean the securities regulator can’t still pursue action against actors in the staking domain, industry analysts and lawyers warn.
The approval of spot Ether exchange-traded funds is “implicit recognition” from the United States Securities and Exchange Commission that Ether is not a security, according to industry pundits.“These are commodities-based trust shares, so the SEC, by approving these, is explicitly saying they’re not going to go after Ether as a security,”if Ether ETFs get S-1 approval — the final piece needed for them to start trading — then the “debate is over: ETH is not a security.
In April, Ethereum infrastructure firm Consensys received a Wells notice from the SEC, which was primarily focused on MetaMask’s trading and staking services.from VanEck, BlackRock, Fidelity, Grayscale, Franklin Templeton, ARK 21Shares, Invesco Galaxy and Bitwise to issue spot Ether ETFs on May 23. Many ETFs issuers notably removed staking in their final amendments.
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