All that we know is that Gensler got skipped and bypassed completely and purposefully — no decision has been confirmed wrt COMMODITY status of ETHER either = coming later = need SEC & CFTC to collaborate together
on the latter, that's not true - this decision signals that the SEC accepts unstaked ETH is not a security - if it were, the current batch of S-1s would all be invalid (funds holding more than 40% securities have to use the N-1A), and according to the issuers, the SEC isn't suggesting new forms be filed, rather it's suggesting S-1 amendments
also, did some digging, the ETH spot ETF decision was taken by the Trading and Markets Division, run by Haoxiang Zhu who reports to Gensler - GG wasn't bypassed at all, it was his decision and he would have consulted the Commissioners, just as HZ would not say yes without GG's ok - this is actually normal, most ETF approval decisions are taken this way
All that we know is that Gensler got skipped and bypassed completely and purposefully — no decision has been confirmed wrt COMMODITY status of ETHER either = coming later = need SEC & CFTC to collaborate together
on the latter, that's not true - this decision signals that the SEC accepts unstaked ETH is not a security - if it were, the current batch of S-1s would all be invalid (funds holding more than 40% securities have to use the N-1A), and according to the issuers, the SEC isn't suggesting new forms be filed, rather it's suggesting S-1 amendments
also, did some digging, the ETH spot ETF decision was taken by the Trading and Markets Division, run by Haoxiang Zhu who reports to Gensler - GG wasn't bypassed at all, it was his decision and he would have consulted the Commissioners, just as HZ would not say yes without GG's ok - this is actually normal, most ETF approval decisions are taken this way
Believe what you want to believe
I don’t care lol
Already told you what really happened
Gensler was not even allowed to vote btw
The ETH ETF decision skipped his desk entirely and was decided for him
oh interesting, I hadn't heard that! do you know who did the deciding?
It’s not my problem that you don’t know what really happened or believe me lol
I have a friend working there who informed me the magic from behind the scenes
It was decided pre decided all of a sudden and expedited without Gensler’s comments at all
They did not disclose that part
Only Gensler was totally and completely bypassed