I think it could potentially be both good and bad. Obviously its now labeled as a commodity rather than a currency which is counterproductive to Bitcoin's intended purpose for becoming a global currency- but isn't it that already basically just without the title?

This move by the SEC could help to pave the way for a Bitcoin ETF for Grayscale as I would consider this process in their effort to move the worlds largest Bitcoin Trust into the largest Bitcoin Exchange Traded Fund.

I still don't quite understand what the consequences of this label mean and how it will affect bitcoin long term. Note that they only noted Bitcoin as the ONLY cryptocurrency to be considered as a commodity, so I wonder if eventually all others will be labeled as a security? I guess we shall see.

Feel free to post your thoughts below, i'm interested to see what people say about this.

Cheers,

TREAD