According to the recent SEC filing you all know, ETH is now a commodity - highlight: according to the SEC
Is there still a chance that some other force (e.g. congress) will overthrow SEC's right to make this decision?
(Source: SEC mentions ETF funds as Commodity-Based Trust Shares: https://www.sec.gov/files/tm/lk87adfs99.pdf )
Is there still a chance that some other force (e.g. congress) will overthrow SEC's right to make this decision?
(Source: SEC mentions ETF funds as Commodity-Based Trust Shares: https://www.sec.gov/files/tm/lk87adfs99.pdf )
It's still a security. Any coin with a PoS mechanism will be classified as such by the US government. ETH is becoming more centralized each day, as big players (mainly CEXs) hold a large stake on the network. The ETFs approval will only make matters worse. Would you imagine an scenario where institutional investment companies become validators of the ETH blockchain with customers' stake? It'd be disastrous.
This is NOT what Satoshi wanted in the first place. People don't care because they're only focused on making money. As long as ETFs "pump" market prices, nothing else matters. We're going to have to see if the SEC will change its view on ETH and starts calling it a "commodity". Crypto regulations in the US are still a "mess". We can't predict the future, so lets hope for the best.
