Bloomberg analyst: SEC “implicitly” treats ETH as a commodity, and spot Ethereum ETF may be approved this year

Bloomberg ETF analyst James Seyffart stated that when the SEC approved an Ethereum futures ETF, it "implicitly" accepted Ethereum as a commodity, which means that a spot Ethereum ETF may be listed this year.

Seyffart said that the SEC may not have enough room to question token classification. The analyst pointed out: "If they call Ethereum a security, this would be contrary to sister regulatory agency CFTC. That's why I think there may be potential approval for an Ethereum ETF this year."

The SEC's deadline for a final decision on VanEck, ARK 21Shares, and Hashdex spot Ethereum ETFs is May 2024.