Bloomberg ETF analyst: The SEC accepted ETH as a commodity when approving the Ethereum futures ETF, and a spot ETH ETF may be launched this year

ChainCatcher news, Bloomberg ETF analyst James Seyffart stated on January 4th on CryptoQuant that when the U.S. Securities and Exchange Commission approved the Ethereum futures ETF last year, it implied acceptance of ETH as a commodity, suggesting that an ETH spot ETF may be launched this year.

The first Ethereum futures ETFs were launched last October, and if the SEC determines that Ethereum is a security, it may need to revoke the futures ETFs. This classification relates to legal requirements and taxation, and the SEC may face disputes with the CFTC.

The final decision deadline for the SEC regarding the spot Ethereum ETFs from VanEck, ARK 21Shares, and Hashdex is May 2024, with other decision deadlines coming in the next few months.