SEC chair Gary Gensler has avoided answering whether the commission definitively considers Ether as a security under its purview.
Prometheum, one of the few crypto companies to have approval from United States financial regulators as a special purpose broker-dealer (SPBD) for digital asset securities, has announced it will be offering institutional custody services for Ether (ETH).
In a Feb. 7 post on X, Prometheum suggested that Ether would be treated as a security for custodial services on its platform. The firm received approval from the U.S. Financial Industry Regulatory Authority in May 2023, seemingly meeting many of the guidelines set by the U.S. Securities and Exchange Commission (SEC) on dealing with crypto asset securities.
“Prometheum ATS supports the trading of certain digital asset securities that currently only trade on crypto exchanges,” said the firm’s website. “Diversify your portfolio mix by investing in the ‘crypto asset’ class with guardrails and investor protections afforded by securities laws.”
