SEC Chair Declares Ethereum Is Not a Security — Will ETH Rally Accelerate?

TradingKey – On Tuesday, July 22, Ethereum (ETH) posted its eighth consecutive daily gain, briefly breaking above $3,856, its highest level since December 2024. 

At press time, ETH is trading around $2,780, with bullish momentum fueled by institutional inflows and regulatory clarity.

Ethereum Price Chart – Source: TradingView

Ethereum’s recent rally is largely driven by accelerating institutional inflows, with U.S. spot ETH ETFs alone attracting over $400 million in net inflows on Monday, July 21. According to Galaxy Research, weekly inflows into Ethereum ETFs soared to $2.182 billion, more than double the previous week’s total.

On-chain data from Lookonchain reveals that since July 1, approximately 23 whales and institutions have accumulated over 680,000 ETH, valued at more than $2.5 billion.

In a pivotal interview with CNBC, newly appointed SEC Chair Paul Atkins confirmed that Ethereum (ETH) is not classified as a security. The regulatory green light may accelerate ETH accumulation among publicly traded firms.