Galaxy Research Director: The SEC May Recognize ETH Itself as Non-Security, While Staked ETH as Security
PANews reported on May 21 that Alex Thorn, Head of Research at Galaxy Digital, stated on the X platform: "If the speculation about the U.S. SEC's 180-degree turn on its attitude towards Ethereum ETFs is true, they might try to find a balance between the following two points: 'ETH' itself is not a security, while 'staked ETH' (or staking ETH as a service) is a security. This is generally consistent with their various lawsuits and related investigation reports and may allow the SEC to approve an Ethereum ETF while maintaining their previously stated and argued positions. In this case, the SEC might prohibit the ETF from staking its held ETH."
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