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Big Win for Ethereum - Sec officially closes investigation into Ethereum 2.0

According to coindesk, the SEC has officially closed its investigation into Ethereum 2.0 and will not bring charges alleging that sales of ETH are securities transactions. This decision comes after ConsenSys, an Ethereum software company, sued the SEC in April 2024 over the investigation.

This is considered a significant win for the Ethereum community and the broader crypto industry, as it provides regulatory clarity and could pave the way for further adoption and investment in Ethereum. The decision also follows the recent approval of several spot Ethereum ETFs, further solidifying Ethereum's status as a commodity rather than a security.

As of June 22 2024 the price of Ethereum is just under $3500, so it hasn't shot up with this recent milestone. Once institutional Ethereum ETF's are launched this could be the catalyst to ramp up the price. Blackrock's Ethereum ETF has been approved in May 2024, but not launched pending their S-1 registration statements.

Long term this has led to increased optimism about the future of Ethereum and the potential for wider adoption. While the full impact of these ETFs on Ethereum's price is yet to be seen, it's expected that they will attract significant investment and potentially drive up demand for ETH.

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