Jake Chervinsky, Chief Legal Officer of VARIANT FUND, stated that the approval of a spot ETH ETF would signify a significant shift in US cryptocurrency regulatory policy post-SAB 121 vote. Previously, proposals to overturn SAB 121 were passed in May by the House and Senate, awaiting the final decision from Biden.

Odaily Planet Daily News: Jake Chervinsky, Chief Legal Officer of Variant Fund, stated today, "If a spot ETH ETF is indeed approved, everyone I know who understands the regulatory situation in Washington will be greatly surprised, but that doesn't mean it won't happen. This implies that the approval of the ETF may signal a significant shift in U.S. cryptocurrency regulatory policy after the end of the SAB 121 vote, which may be more important than the ETF itself." Earlier reports indicate that the proposal to overturn SAB 121 was passed by the House and Senate on May 8th and May 17th respectively. President Biden will make the final decision on the proposal by May 28th.

VARIANT's Chief Legal Officer predicts that the approval of ETH ETF could signal a significant shift in regulatory policies.