The U.S. Securities and Exchange Commission (SEC) has been under major pressure from US lawmakers not to proceed ahead with the approval of the spot Ethereum ETF. The chances of Ether ETF approval have been waning as the SEC eyes securities tag for the altcoin. However, industry players have come in support of Ethereum amid these developments.
Coinbase Executive Pushes for Spot Ethereum ETF
Coinbase’s Chief Legal Officer, Paul Grewal, addressed ongoing speculation and misinformation surrounding Ethereum (ETH) amid anticipation of a decision on Ethereum Exchange-Traded Products (ETPs). Grewal emphasized key facts about ETH, highlighting its widespread ownership among millions of Americans since its inception in 2015 and its integral role in the cryptocurrency ecosystem.
He reiterated that ETH is recognized as a commodity by both the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), with senior SEC officials and former Chair Gary Gensler affi
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