In a mere seven days, the Spot Ethereum ETF decision underwent a complete turnaround of 180 degrees. Gensler, who had previously expressed strong opposition towards cryptocurrencies, softened his stance and recognized that certain alternative coins should not be hastily labeled as securities. Shortly after, a bill was successfully passed in the House of Representatives, granting the CFTC the power to categorize relevant alternative coins as commodities. This achievement was particularly noteworthy as it garnered significant backing from the Democratic party.
