Alex Thorn, the Head of Research at Galaxy Research, speculated that the SEC could differentiate between Ethereum (ETH) and staked Ether, possibly classifying the latter as a security.
He noted that this distinction could provide a regulatory loophole for approving spot Ethereum ETFs.
Spot Ethereum ETF Approval Loophole
In a May 21 post on X, he stated, “If the speculation about a 180 from SEC on the Ethereum ETFs is true, I would guess they try to thread a needle between ‘ETH’ NOT being a security and ‘staked ETH’ (or even more flimsily, ‘staking as a service ETH’) as BEING a security.”
if the speculation about a 180 from SEC on the ethereum ETFs is true, i would guess they try to thread a needle between “ETH” NOT being a security and “staked ETH” (or even more flimsily, “staking as a service ETH”) as BEING a security.
that would be somewhat congruent with…
— Alex Thorn (@intangiblecoins) May 21, 2024
This potential distinction could have implications
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