In a major win for Ethereum and the broader crypto industry, the U.S. Securities and Exchange Commission (SEC) has officially dropped its investigation into Ethereum’s status as a security. This decision, announced late Friday, has ignited optimism in the market, pushing ETH’s price above $3,200 — its highest level since early 2024.

The SEC’s shift comes amid growing political and institutional support for cryptocurrency regulation that fosters innovation without stifling growth. Industry leaders like Consensys and Coinbase hailed the move as “a step toward clarity and legitimacy.”

Altcoins Join the Rally

Following Ethereum’s spike, several Layer-2 and DeFi tokens posted double-digit gains. Arbitrum (ARB)$ARB surged 18%, while Optimism (OP)$OP and Uniswap (UNI) $UNI climbed by over 12% in 24 hours. Analysts believe the decision could lay the groundwork for broader institutional investment, particularly in Ethereum-based protocols.

ETF Momentum Builds

Adding fuel to the fire, rumors have resurfaced about a potential Ethereum spot ETF approval. With Bitcoin ETFs already trading in major markets, an Ethereum ETF could further solidify crypto’s place in mainstream finance.

What’s Next?

While the market celebrates, experts caution that regulatory uncertainty still looms for other crypto assets. Still, Ethereum’s regulatory green light may serve as a blueprint for future evaluations.

Stay tuned to Binance Square for more updates as the crypto landscape evolves.

"A digital rendering of Ethereum's logo glowing in front of a U.S. Capitol building, symbolizing regulatory approval, with green candlestick charts rising in the background."