Paul Grewal: SEC Approval Reinforces Ethereum as a Commodity
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Coinbase CLO Paul Grewal shed light on the SEC’s approval of eight spot Ethereum ETF applications, highlighting Ethereum’s status as a commodity. Grewal noted that this decision strengthens Ethereum’s recognition as a commodity, a notion shared by the Commodity Futures Trading Commission and federal courts. Moreover, this approval signals the upcoming trading of Ethereum on Wall Street and marks a major milestone for institutional development. However, trading is expected to commence only after the S-1 documents are approved, which might require several weeks.
