The Securities and Exchange Commission (SEC) cannot support an Ethereum (ETH) Futures Exchange Traded Fund (ETF) while also claiming that ETH is an unregistered “crypto asset security,” according to Adam Cochran, a partner at Cinneamhain Ventures. Cochran suggests that for an ETF to be created, the SEC must acknowledge that ETH is a commodity or currency, and not a security. Cochran also believes that this action by the SEC could be used as evidence by Ripple in its lawsuit against the SEC, to show that there is a distinction between the asset itself and its sales. However, Cochran clarifies that this does not mean that all crypto assets are not securities. In response, pro-XRP attorney John Deaton supports Cochran’s assessment, stating that the SEC’s approval of an ETH Futures ETF would make them more receptive to a potential appeal involving XRP. Ripple CEO and Executive Chairman recently opposed the SEC’s request for a stay of all proceedings and interlocutory appeal. It is important to note that crypto assets and NFTs are unregulated and come with high risks. Investors are advised to seek expert advice and carefully read the relevant documents before making any investments.
AI Sentiment: Negative