Some thoughts on ETH ETFs and ETFs of other coins and SEC

[zasad@]

On May 24, etherium formally became a commodity
https://cointelegraph.com/news/sec-etf-decision-means-ether-other-tokens-not-securities

But to begin trading, a form of S-1s must be approved, which can take anywhere from a few weeks to a few months.
But anilithics says that's a formality.

But lawyers still can't come to a general consensus. On the one hand, etherium is a commodity if the form of S-1s is adopted. There's no disagreement here.
But even after the adoption of the form of S-1s, the SEC can symtomize etherium, which is in steaking as a security.
That is why ETF funds refuse to be staked. If legal practice in the U.S. goes this way, it will also apply to other coins with steeking.

[Upgrade00]

This entire "Security or commodity" battle looks to not be ending anytime soon. I am indifferent to the position the SEC reaches on ETH and all tokens under it, but this decision is sure to have a wave like effect on other coins and blockchains which are set up exactly the way ETH is.

Maybe we can do a poll at some point to know the percentage of the crypto community genuinely bothered about ETF rulings and if a coin is a security or not.

[blckhawk]

This entire "Security or commodity" battle looks to not be ending anytime soon. I am indifferent to the position the SEC reaches on ETH and all tokens under it, but this decision is sure to have a wave like effect on other coins and blockchains which are set up exactly the way ETH is.

Maybe we can do a poll at some point to know the percentage of the crypto community genuinely bothered about ETF rulings and if a coin is a security or not.

It will probably last for about 10 years and then they will decide that it's not a commodity, that's what I'm sure of, SEC wants to be on the advantage with this one so I'm not sure that they're trying to do this kind of stuff. I don't get why they consider ETH as a commodity though, by definition it should be valuable and don't they see ETH and other cryptocurrency as valueless thing because the only backing it has is the people that believes that there's a value to it? So why consider it as a commodity now? Something changed within SEC? Or this can be a possible red carpet preparation for the ETH ETF in the future?

[zasad@]

This entire "Security or commodity" battle looks to not be ending anytime soon. I am indifferent to the position the SEC reaches on ETH and all tokens under it, but this decision is sure to have a wave like effect on other coins and blockchains which are set up exactly the way ETH is.

Maybe we can do a poll at some point to know the percentage of the crypto community genuinely bothered about ETF rulings and if a coin is a security or not.

If my savings were 90% only in bitcoins, then I would also not be interested in the opinion of the SEC. However, major global financial firms have been interested in adding Ethereum and Bitcoin to global exchanges and launching spot ETFs, but we do not know their interest in other cryptocurrencies. And regulation has only just begun.