The US Securities and Exchange Commission (SEC) has approved spot Ethereum ETFs, indicating that ETH is not a security. However, despite this approval, Prometheum Capital still considers Ethereum a security and offers ETH custody services. This has raised concerns among Republican members of the US House of Representatives, who have questioned both the SEC and the Financial Industry Regulatory Authority (FINRA) about Prometheum Capital's ETH custody services. The representatives argue that since the SEC has stated that ETH is not a security, Prometheum should not offer custody services for Ethereum. They express confusion and concern over the conflicting statements and actions surrounding Ethereum's classification and the silence of the SEC and FINRA on this matter, which they believe increases uncertainty and potential risks for the market and consumers.



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