Galaxy executives: The SEC may recognize ETH itself as non-security, while staked ETH is a security

ChainCatcher news, Alex Thorn, the research director at Galaxy Digital, stated on the X platform that if the speculation about the U.S. SEC's 180-degree turn on Ethereum ETFs is true, they may try to find a balance between the following two points: ETH itself is not a security, while staked ETH (or, more tenuously, staked ETH as a service) is a security.

This is generally consistent with their various lawsuits and reports regarding investigations, and it may allow the SEC to approve Ethereum ETFs while maintaining the positions they have previously stated and argued.