I do think the Ethereum ETF approval is a watershed moment in the long-running debate over the status of ETH, Paul Grewal, Coinbase's chief legal officer, said in an interview on Friday. For a long time, the SEC has been hiding its position on whether ETH is a security, non-security, commodity or something else.
Grewal claims that because the issuer takes the form of an S-1, a certain percentage of the fund's assets can be securities. By designating S-1 as the preferred registration method, the Securities Exchange Commission means that these funds by definition do not include assets in which more than 40% of their portfolio is securities.
Grewal added that there is no other conclusion to prove this except that Eth is not a security.
Coinbase Chief Legal Officer: The approval of the Ethereum ETF is a watershed moment in the long-running debate over the status of ETH
2024-05-26 22:59:29
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