As the United States progresses towards regulating the cryptocurrency market, the debate on whether Ethereum should be considered a security or commodity is intensifying. Notable individuals such as MicroStrategy’s Michael Saylor and Cardano’s Charles Hoskinson are on opposite sides of this discussion.

Michael Saylor’s View on Ethereum

During the MicroStrategy World 2024 conference, Michael Saylor, the executive chairman of MicroStrategy, expressed his belief that Ethereum, being the largest altcoin globally, should be labeled as a crypto-asset security rather than a commodity. Saylor mentioned his prediction that Ethereum would not receive approval and would instead be classified as a crypto-asset security. Additionally, he asserted that other tokens like BNB, Solana, Ripple, and Cardano would also fall under the category of unregistered crypto-asset securities, thus excluding them from a spot ETF or acknowledgment by mainstream institutional investors.