“Crypto Journalist Laura Shin’s Unchained Podcast Spotlights Bloomberg Analyst James Seyffart Discussing Possible SEC Shift Towards Ethereum, Noting Recent Approval of Ethereum Futures ETFs”
During a recent installment of the Unchained Podcast hosted by crypto journalist Laura Shin, Bloomberg analyst James Seyffart delved into a significant development hinting at a possible change in the regulatory perspective of the U.S. Securities and Exchange Commission (SEC) regarding Ethereum.
Offering his insights, Seyffart highlighted the SEC’s recent endorsement of Ethereum futures exchange-traded funds (ETFs). According to him, this approval signifies a nuanced recognition from the SEC that Ethereum could be viewed more as a commodity rather than a security.
Articulating his perspective, Seyffart underscored the implicit acknowledgment by the SEC that Ethereum is treated as a commodity, particularly evident in the approval of Ethereum futures ETFs. He pointed out that a reversal in the SEC’s classification, shifting Ethereum back to a security, could carry substantial consequences.
Seyffart noted that a reversal in the stance could trigger the delisting of Ethereum futures contracts and ETFs. Such a move would not only pit the SEC against the industry but also set the stage for a conflict with its counterpart, the Commodity Futures Trading Commission (CFTC).
Although Seyffart refrained from providing specific odds, he indicated a high probability of Ethereum being categorized as a commodity. Additionally, he offered an estimation that this reclassification could materialize by the year 2024.
According to Seyffart, SEC Chairman Gary Gensler acknowledges Bitcoin as a commodity, while maintaining relative silence on Ethereum. This indirect stance suggests a departure from treating Ethereum as a security. Seyffart proposes that the SEC might be opting not to expend energy on a protracted battle over Ethereum’s classification.
