Crypto analyst Adam Cochran recently highlighted that the US Securities and Exchange Commission (SEC) approving an Ethereum futures exchange-traded fund (ETF) implies the acknowledgment that Ethereum itself is not a security. Cochran argued that the SEC cannot simultaneously argue that ETH is an unregistered "crypto asset security" and approve an ETH Futures ETF.

This move by the SEC is seen as a significant win, as it concedes the distinction between the asset and its sales, potentially benefiting Ripple in its ongoing legal battle with the SEC. While Cochran clarified that it doesn't mean all crypto assets are non-securities, it does indicate that a line exists, prompting further litigation on its exact placement.