Consensys: Ethereum spot ETF approval shows that the US SEC believes Ethereum is a commodity

ConsenSys stated on the X platform that while they welcome the decision to approve an Ethereum spot ETF today and believe it is a step in the right direction, this seemingly last-minute decision once again demonstrates the SEC's tricky and arbitrary approach to digital assets. No other industry, market, or asset has been subjected to such deliberate regulatory abuse. This is unfair to market participants, contrary to legal principles, and stifles innovation.

Today's approval shows that the SEC believes Ethereum is a commodity, not a security - contradicting the position it has held until this week, as described in our recent lawsuit against the SEC. We will continue to seek clear regulatory clarity in our case and are pleased to see bipartisan efforts in Congress to seek clear and reasonable regulation.