SEC Criticized for Ethereum ETF Approval, Suggesting Non-Security Status Amid Probe

In October 2023, the SEC approved Ethereum (ETH) Futures ETFs, sparking controversy due to the ongoing investigation into whether ETH is a security. Critics argue this approval, which implicitly suggests ETH is a non-security commodity, contradicts the SEC's stance, raising questions about consistency and transparency. The approval was expedited under claims of public interest and investor protection, yet the SEC did not disclose the ongoing investigation. Calls for SEC Chair Gensler to testify under oath have intensified, demanding explanations for this apparent conflict.