According to Bloomberg ETF analyst James Seyffart, the U.S. securities regulator implicitly accepted Ether as a commodity when it green-lit Ethereum futures ETFs.
The United States Securities and Exchange Commission implicitly accepted Ether (ETH) as a commodity when it approved ETH futures exchange-traded funds (ETFs) last year — meaning a spot ETF variant is likely set for this year — according to Bloomberg ETF analyst James Seyffart.
Speaking during CryptoQuant’s private webinar on Jan. 4, Seyffart alluded to the approval of Ether futures ETFs in October 2023, noting that the SEC did not challenge the coin’s classification through the ETF registration process with the Commodity Futures Trading Commission (CFTC).
Seyffart said the SEC likely had no bandwidth to dispute the classification.
