ETH Price Shoots 5% as SEC Ends Investigation

Krutika Adani

SEC Shuts Investigation on Ethereum

Consensys said it had received a communication from the SEC, in which the regulator had said to end its investigation on Ethereum.

Ethereum’s Price Responds

Since the investigation was shut down, Ethereum has rallied 5%.

What Was the Investigation?

The SEC started an investigation to determine whether the Ethereum (ETH) sales were securities.

Will It Benefit ETFs?

The decision might lead to faster approval of S-1 applications, which the SEC had kept on hold despite approving ETF applications from exchanges.

Future Outlook

The decision could play a vital role in the success of the ETFs as Ethereum is now free from the tag of being a security.