Opinion: The approval of Ethereum ETF is a watershed moment in the long-term debate about ETH's status

Media reports, Coinbase Chief Legal Officer Paul Grewal said in an interview on Friday that he indeed believes the approval of Ethereum ETF is a watershed moment in the long-term debate about ETH's status. For a long time, the SEC has been concealing its stance on whether ETH is a security, non-security, commodity or something else. Grewal claims that because issuers use Form S-1, a certain proportion of assets in the fund can be securities. By designating S-1 as the preferred registration method, it means these funds by definition do not include more than 40% of assets as securities in their portfolio according to the U.S Securities and Exchange Commission. Grewal added that apart from Eth not being a security, there are no other conclusions to prove this point.