Ethereum’s regulatory standing has received an informal nod of approval from the top of the US Securities and Exchange Commission.
Speaking on CNBC’s “Squawk Box”, SEC Chairman Paul Atkins said the agency has “stated informally more than formally” that Ethereum is not classified as a security.
Instead, it is viewed in a similar light to Bitcoin, as a commodity—though Atkins emphasised that decisions on treasury holdings are left to individual companies.
He described Ethereum as “a very key component for a lot of other digital currencies” and welcomed growing adoption.
He further added with optimism, pointing to institutional momentum behind ETH.
“I think that provides a good future for development.”
Following the SEC’s informal stance, companies are making decisive moves.
Crypto mining firm Bit Digital recently abandoned its Bitcoin-only approach, opting for an Ethereum-only strategy.
Over three months, it sold off 280 BTC and raised US$172 million from a share sale.
As of its latest filing, Bit Digital’s treasury jumped from 24,434 ETH in March to about 100,603 ETH.
But the most striking move came from SharpLink Gaming.
The firm now holds a staggering 280,706 ETH—valued at US$1.05 billion—making it the largest known corporate ETH reserve, even surpassing the Ethereum Foundation.
SharpLink Gaming holds the second-highest amount of Ethereum (ETH) among the ranked entities, while Bit Digital is positioned sixth. (Source: strategicethreserve.xyz)
Nearly all of this, about 99.7%, is staked.
Since June, SharpLink has already earned 415 ETH in rewards.
Source: strategicethreserve.xyz
Chairman Joseph Lubin described the strategy as “collective capitalism,” hinting at a broader belief in Ethereum’s future role in the economy.
Atkins also pointed to new federal legislation on stablecoins, calling it a “stamp of approval” for regulated dollar-backed digital tokens.
The law could pave the way for real-time securities settlement—reducing both risks and costs in traditional capital markets.
On-chain delivery versus payment (DvP) using stablecoins is now a realistic target for US financial infrastructure, he suggested.
The conversation shifted to retirement portfolios, where Atkins acknowledged rising demand for digital assets within 401(k) plans.
Investors are increasingly interested in accessing private funds and crypto strategies through employer-sponsored accounts.
He urged the SEC and Department of Labor to define proper safeguards—including standards for valuation, liquidity, and fees—so that fiduciaries can offer these products responsibly.
Atkins called for stronger frameworks to support long-term savers seeking exposure to the digital economy.
“We need to make it so that individual investors are relying on fiduciaries.”
Ethereum’s trajectory appears to have avoided the rocky legal road faced by Ripple.
In 2023, the New York Attorney General’s office requested the SEC to label Ethereum a security in its case against KuCoin.
Although the state had jurisdiction regardless of classification, the move could have invited broader legal scrutiny.
Ripple, by contrast, has spent years battling the SEC’s classification of XRP as an unregistered security, which led to massive uncertainty, exchange delistings, and an investor exodus.
Despite that, XRP has managed to remain competitive in the altcoin space—but Ethereum now leads by a wide margin, particularly in institutional adoption.
Momentum is also building in traditional finance.
ETH-based ETFs have attracted over US$1 billion in inflows since July, with BlackRock emerging as a key participant.
This institutional rush has driven Ethereum’s price up to US$3,782—its highest in months—with over 25% gains in the last week.
XRP is also gaining traction, trading at US$3.59 after a 22% rise in seven days, with daily volume climbing to US$10 billion.
Ethereum’s growing presence on corporate balance sheets, endorsement from regulatory leadership, and surging ETF interest suggest it’s no longer just a speculative asset.
It’s becoming financial infrastructure.
The informal SEC stance removes a key layer of regulatory fog.
With stablecoins moving closer to regulated use and retirement accounts exploring crypto access, the once-radical idea of ETH powering mainstream systems is now approaching reality.
The real question is not if Ethereum belongs in finance, but if finance is starting to accept it.
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