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.
Sick of you Ethereum people posting facts and logic https://t.co/1kCKTjC6F9
The fact that the SEC approved an ETHEREUM ETF and didn’t disclose there was a current destination pending is INSANE 1) what https://t.co/JlTlDnCsBg
Speaking as a former CFTC enforcement attorney, this is solid analysis. Read @adamscochran on why the SEC's approval of ETH futures ETFs in October 2023 means the SEC officially endorsed (again) the CFTC's position that ETH is a commodity, NOT a security.👇 https://t.co/AYlMj8yZMD
WHY ALL OF THIS LITIGATION IS ACKSHUALLY A GOOD THING FOR CRYPTO, A THREEADDD https://t.co/8Wda0G1VMT
Good thread to revisit on the SEC / ETH Futures👇 https://t.co/gRX3NY5FIp
I keep posting on the cypto industry's battle with the SEC over whether #Ethereum is a security because: 1. Eth undergirds so much of crypto 2. A definitive ruling on Eth will apply to thousands of other coins 3. the SEC's behavior on this Eth issue is setting a new low for it. https://t.co/LUD3JHOYRG
1/14 Some folks are confused, as to why the SEC "Eth is a security timeline" and the "Futures ETF" is bad for the SEC. Here's a quick breakdown of why it paints Gensler into a corner:
.eth's will regret obsessing over economic security https://t.co/7F0WeCTUWI
Reminder also for everyone in the back: The SEC allowed these futures ETFs to go effective AND accelerated their effectiveness, which required the SEC to have "due regard to the public interest and the protection of investors". How can you have due regard here while believing ETH… https://t.co/uT4nKmwVUf https://t.co/2SoEBJCebq
Yet the SEC approved ETH Futures ETF in October of 2023. So Gensler needs to be under oath, explaining why he approved something that he believes was a security and under investigation. Can’t have it both ways. https://t.co/R9imcV5w9P
Why did they approve eth futures ETFs then? Seems like that was implicit acceptance that eth = non-security commodity. https://t.co/FMIPbfSsDD