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Still angry about the approval of spot BTC ETFs, it appears Liz Warren and her cronies are dead set on stopping Americans choosing their own sovereignty – hoping to stomp out the hopes and dreams of a Spot Ether ETF by classifying it as a security.

As CoinDesk's report, The Ethereum Foundation – the Swiss non-profit organization at the heart of the Ethereum ecosystem – is under investigation by an unnamed "state authority," according to the group's website's GitHub repository.

Ethereum's initial reaction was to 'sell, sell, sell', but quickly the humans invokved realized this is nothing new and ramped it back up:

  "it's another nothing-burger for the algos"…

Nevertheless, the SEC seems dead-set on slow-playing the ETH ETF and Bloomberg's James Seyfartt and Eric Balchunas have lowered their odds of approval by May 23rd notably…

Public sentiment appears to have also fallen, with Polymarket odds for Ether ETFs being approved by the end of May dwindling to 32%, down from January’s 77% odds.

Polymarket is a decentralized betting platform. Around $2.2 million has been bet on the outcome of the Ether ETFs.

All of this government pressure – in the face of embarrassingly clear evidence of demand and comprehension by the public about crypto ETFS – comes as JPMorgan, Goldman, and Blackrock all view ETH as a much more useful and important asset than BTC, due to its tokenization.