Ramazan Eles 
Paul Grewal, head of legal at Coinbase, the largest cryptocurrency exchange in the United States, has commented on the SEC’s Ethereum decision.
“Ethereum (ETH) has always been functionally treated as a commodity, as we know,” said Grewal.
The U.S. Securities and Exchange Commission (SEC) has approved 19b-4 applications to create a spot Ethereum ETF. However, staking services for ETH will not be allowed in these funds.
Analysts say this means the SEC considers Ethereum to be a commodity.
SEC Chairman Gary Gensler said at an event yesterday that many, but not all, cryptocurrencies are securities.