New information related to the SEC's perspective on Ether as a potential security has been revealed during Consensys' legal dispute with the regulator. According to reports by Eleanor Terret of Fox Business, it appears that both the SEC and Gary Gensler have held beliefs for over a year that Ether could be categorized as a security. This viewpoint suggests that Ether was being traded as an unregistered security, thereby violating federal regulations. Recent court documents filed by Consensys also indicate that the SEC had initiated a formal investigation named "Ethereum 2.0" regarding Ether's security status. An investigation order was approved by Gurbir Grewal on March 28, 2023, allowing the enforcement staff to subpoena individuals and entities involved in trading Ether. If Ether is classified as a security by the Gensler-led SEC, it would contradict previous guidance provided under Chairman Jay Clayton. Despite this, Gensler has avoided clarifying his stance on Ether as a security, raising questions about the potential impact on regulatory decisions concerning Ether-related products like exchange-traded funds.