Ethereum Is Effectively Deemed A Commodity: Coinbase Exec
Following the approval of Spot Ethereum ETF s, Coinbase Chief Legal Officer Paul Grewal says that Ethereum is effectively deemed a commodity. In a post to X, the Coinbase executive says that ETH is a commodity “as we’ve always known it to be.” This week, this day, has been a rollercoaster unlike any other I’ve seen. ETH is effectively deemed a Commodity as we’ve always known it to be. I’m proud to be on team @Coinbase, the trusted partner and custodian for many of the issuers who had 19b-4’s approved tonight. pic.twitter.com/nz1HHFbBSQ — paulgrewal.eth (@iampaulgrewal) May 23, 2024 Also Read: SEC Approves All Spot Ethereum ETF s After a long wait, 19b-4 forms for Spot Ethereum ETF s have been approved, marking the first steps towards official approval of all ETH ETFs. Coinbase, being one of the biggest cryptocurrency exchanges on the market, is a strong supporter of the cryptocurrency ETF wave. Ethereum will ultimately join Bitcoin as the only crypto ETF availabl...