Until now, disputes about what is actually a financial instrument, a commodity, a payment instrument or something else that does not fit into the existing classification of assets and require a new definition for the world of modern finance are still going on.
This is not a commodity, because it is not a raw material for the production of anything useful. The only exception, I think, may be if it becomes an essential component of smart contracts. In this case, probably, bitcoin will be able to take on the role of a commodity that is valued not so much as a currency, but as a kind of "fuel" for smart contracts.]