Times have really changed.

During the Biden administration, the SEC refused to take a stance on whether ETH is a security due to Ethereum's transition to POS.

The new SEC has directly published an article defining three types of POS activities as not being securities. Self-staking and third-party self-custody staking, as well as custodial staking, are not securities. However, restaking still requires separate analysis, and POS tokens were not mentioned.

https://www.sec.gov/newsroom/speeches-statements/statement-certain-protocol-staking-activities-052925