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[quote=Anonymous][quote=Anonymous][quote=Anonymous]So I have a bunch of alt coins. I bought some bitcoin in an etf. I now see spot ETH ETS are proposed, but await approval from the SEC. What is the likelihood of approval? I know the SEC is also inveatigating the ETH foundation and is suing coinbase. They really want to classify ETH as a security. Gensler hates crypto. He reluctantly approved the Bitcoin ETFs. What are the odds of ETH ETF approval? What are the odds of ETH being labeled a security? [b]I know Bitcoin is relatively immune at this point from going away and is classified as a commodity.[/b] So it’s somewhat insulated. I would invest in an ETH ETF if it’s approved, but I get a less sure feeling about that or that it won’t be classified as a security. One thing I’m curious about is the Supreme Court and the Chevron doctrine. If that goes away, wouldn’t the SEC lose its ability to regulate crypto in general? It seems likely Chevron is cooked. So it feels like SEC is charging full bore ahead with a punitive approach now against crypto in general, but could soon lose its authority over crypto in June when the SC Chevron ruling is expected. Basically crypto is still so risky and volatile, but I’m committed to it because the reward could be so much higher and faster than stocks. Anyone have any book making odds on how it will all shake out? Will crypto be regulated out of existence? Or will it keep growing?[/quote] I thought Bitcoin was a currency.[/quote] Not sure if you’re being sarcastic, but anyway: On September 17, 2015, the U.S. Commodity Futures Trading Commission (CFTC) officially declared Bitcoin a commodity, a distinction that eight years later continues to set it apart from other cryptocurrencies that have yet to earn this status.[/quote]
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