SEC Views on Ethereum ETF Remain Murky Despite Bitcoin Approvals
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Gary Gensler drew a distinction between Bitcoin as a commodity and other cryptocurrencies like Ethereum that could be seen as securities. This suggests an Ethereum ETF may face more regulatory hurdles.
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The SEC has previously signaled it views all Ethereum transactions as under its jurisdiction. If it sees Ethereum as a security, that would likely make it more hostile to an Ethereum ETF.
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A recent court decision forced the SEC to approve Bitcoin ETFs and could also force it to approve an Ethereum ETF, despite its reservations.
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Ethereum futures ETFs have been approved, potentially setting up a parallel legal situation to what happened with Bitcoin futures and spot ETFs.
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Ethereum prices rose this week on hopes a spot ETF may follow the new Bitcoin spot ETFs, but Gensler remains cagey on the issue.