Chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, has chosen to remain silent on the issue of whether Ethereum is classified as a security by the regulatory body, even as there are ongoing considerations for spot Ethereum ETFs. Gensler emphasized that the determination of whether a cryptocurrency is a security hinges on the specific facts and circumstances of each case. The SEC has put off its decision to greenlight the iShares Ethereum Trust from BlackRock, as well as applications from Fidelity, Invesco, and Galaxy Digital. Bloomberg's ETF analyst James Seyffart has anticipated that the SEC will continue to postpone its decision on Ethereum ETF applications until May 23.