Hester P. Peirce of U.S. Securities and Exchange Commission said that while the SEC has approved Ethereum ETFs with a staking-option removed, it could open to reconsideration.
Peirce shared his view on this during an interview Coinage notes that the staking of spot Ethereum (ETHThe ETFs, or any other features of the spot ETFs can be revised.
“There were features of the product that some people would have liked to see included but weren’t — those are always open for reconsideration as far as I’m concerned,” The SEC commissioner noted.
Peirce refused to comment about what transpired as the SEC engaged with issuers, and dropped staking.
Why a review on ETH ETFs is possible
SEC’s approval of spot Ethereum ETFs was in May. The issuers didn’t include staking because the SEC considered staking to be an investment contract. The Commission also sued Ethereum Development firm Consensys over this in June. This was specifically because the product offered by the company via its MetaMask wallet.
Eric Balchunas, senior ETF analyst at Bloomberg and a commentator on SEC commissioner’s comments, said that Peirce was expressing what many people have believed to be true.
Balchunas, in particular, noted that the aforementioned comment On X, it is possible that the ETF spot ETH or spot BTC will be reconsidered for both staking as well as in-kind redemption and creation. Most likely, the US will change its government in the wake of the next election.
The industry has been extremely optimistic about the outcome of the election. This is reflected in the high number of crypto bets made on Polymarket.
While the market bounced on expectations that spot Ethereum ETFs would be trading soon next week. Ethereum price: rose to above $3,500 On July 17, the excitement also helped Solana, and other altcoins, to recover to key levels.
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Source: crypto.news