Consensys director of global regulatory matters Bill Hughes interpreted the approval as an admission that Ether is a commodity.
Following the approval of spot Ether exchange-traded funds (ETFs), experts discussed the development during a Cointelegraph-hosted session on X Spaces.
On May 23, the United States Securities and Exchange Commission (SEC) approved the 19b-4 filings from Ether (ETH) ETF applicants, including VanEck, BlackRock, Fidelity, Grayscale, Franklin Templeton, ARK 21Shares, Invesco Galaxy and Bitwise.
Additionally, although the approval of ETFs is celebrated as a victory for cryptocurrency, the lawyer remains skeptical about whether the SEC will adopt a more liberal stance on crypto-related matters in the future.
