The approval of spot Ether exchange-traded funds (ETFs) is seen as “implicit recognition” from the United States Securities and Exchange Commission (SEC) that Ether is not a security, according to industry experts. This decision might have broader implications for other tokens as well. “These are commodities-based trust shares, so the SEC, by approving these, is explicitly saying they’re not going to go after Ether as a security,” stated Bloomberg ETF analyst James Seyffart during a discussion with Ryan Sean Adams on the Bankless podcast. Digital asset lawyer Justin Browder believes that if Ether ETFs receive S-1 approval — the final
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