Details Behind SEC Investigation into Ethereum and ETP Rejection

Industry experts point out that the U.S. Securities and Exchange Commission’s (SEC) actions targeting the Ethereum Foundation and related companies could be seen as a coordinated attack against Ethereum. This situation could be used as an excuse for the rejection or delay of Ethereum exchange-traded funds (ETFs). SEC’s Actions on Ethereum According to sources, the SEC is running a campaign to classify Ethereum as a security. Coinbase’s chief legal officer stated that the SEC didn’t have a legal basis for rejecting Ethereum ETP applications and that the SEC chairman had previously stated that Ethereum was not a security. The head of Ikigai Asset Management and some press members claim that the SEC’s recent actions regarding Ethereum are a coordinated attack against spot Ethereum ETFs. Bloomberg ETF analysts lowering the possibility of approving spot Ethereum ETFs also reflects the SEC’s stance. Reactions from the Investment World The Chairman of the House […]

Details Behind SEC Investigation into Ethereum and ETP Rejection

Industry experts point out that the U.S. Securities and Exchange Commission’s (SEC) actions targeting the Ethereum Foundation and related companies could be seen as a coordinated attack against Ethereum. This situation could be used as an excuse for the rejection or delay of Ethereum exchange-traded funds (ETFs).

SEC’s Actions on Ethereum

According to sources, the SEC is running a campaign to classify Ethereum as a security. Coinbase’s chief legal officer stated that the SEC didn’t have a legal basis for rejecting Ethereum ETP applications and that the SEC chairman had previously stated that Ethereum was not a security.

The head of Ikigai Asset Management and some press members claim that the SEC’s recent actions regarding Ethereum are a coordinated attack against spot Ethereum ETFs. Bloomberg ETF analysts lowering the possibility of approving spot Ethereum ETFs also reflects the SEC’s stance.

Reactions from the Investment World

The Chairman of the House Financial Services Committee and other officials express their disapproval of the SEC’s move. A former CFTC commissioner asserts that when the SEC approves Ethereum futures ETF applications, it acknowledges Ethereum’s security status.

The founder of Cardano believes that the SEC’s opinion on Ethereum’s security status may have changed after changes in its mechanism. However, it is warned that if Ethereum is classified as a security, futures ETFs listed on the CFTC will become illegal and subject to different rules.

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