The SEC’s ETF ruling means that ETH and ‘many’ other tokens are not securities.

The approval of Spot Ether (ETH) exchange-traded funds is an “implicit acknowledgment” from the United States Securities and Exchange Commission that Ether is not a security, industry experts said.

One suggests that this could be extended to other symptoms as well.

“These are commodity-based trust shares, so by approving these, the SEC is clearly saying that ether is not going to be a security,” Bloomberg ETF analyst James Seifert said in a chat with Ryan Sean Adams on The Bankless. Podcast.

Digital asset attorney Justin Browder believes that if Ether's ETFs get an S-1 license — the final part of starting a business — then “the debate is over: ETH is not a security.”

Adam Cochran, a venture capital partner at CinemaHine Ventures, went a step further, arguing that the line of thinking could be extended to other project tokens.

“ETH is a commodity even with its current characteristics. This means that we can provide the elements necessary for security with *a lot* of other projects. Many things today are clearly commoditized, even though you probably don't know about them yet.

However, Seifert and others believe the SEC may continue to pursue actors involved in putting Ether on hold:

“[I think they will] Test this thread and say ETH, they don't call security, but paid ETH can be security […] And I don't think they're going to let that go anytime soon.”

Digital property attorney Joe Carlassare agrees with Seifert.

“The SEC can monitor individual actors and participate as a service even if an ETF is launched. I think other actions are rare,” Carlassare told Cointelegraph.

In April, Ethereum infrastructure firm Consensys received a notice of wells from the SEC, which focused primarily on Metamask's trading and stock services.

Financial lawyer Scott Johnson also said that the SEC has “completely sidelined” the issue and did not confirm Ether's security status in the approval order.

However, the SEC and some of its commissioners are expected to make public announcements in due course.

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On May 23, the SEC officially approved 19b-4 applications from VanEck, BlackRock, Fidelity, Grayscale, Franklin Templeton, ARK 21Shares, Invesco Galaxy and Bitwise to issue Ether ETFs. Many issuers of ETFs have removed stocks in their last revisions.

Hashdex was the only ETF issuer that did not receive regulatory approval that day.

However, the eight approved ETF issuers will have to wait until the SEC files their S-1 registration statements before filing.

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