Will Ethereum Be Declared a Security By the SEC Next Week?

A securities lawyer warned that the SEC may soon declare Ethereum a security while rejecting several spot Ethereum ETF applications. Scott Johnson, a general partner at Van Buren Capital, said the SEC's question about whether Nasdaq properly filed its proposal under rules for Commodity-Based Trust Shares looks telling. Terrence Yang, a managing director at Swan Bitcoin, called an explicit security designation "highly unlikely" because of political pressure from crypto-friendly politicians, and Polymarket traders priced a 16% chance of approval this month.