In a mere span of seven days, the Spot Ethereum ETF decision underwent a complete turnaround of 180 degrees. Gensler, known for his staunch opposition towards cryptocurrencies, adopted a more nuanced stance, conceding that certain alternative coins are not securities and should not be prematurely labeled as such. Shortly thereafter, a bill empowering the CFTC to categorize pertinent altcoins as commodities garnered significant backing from Democrats as it successfully passed through the House of Representatives.
