Broker Bernstein stated in a research report that the approval of a spot Ethereum exchange-traded fund in the United States will be considered a significant regulatory relief for the cryptocurrency industry and will increase expectations for ETH's competitor SOL to be classified as a commodity. The analyst added: "Tactically, the approval of an Ethereum ETF will establish a precedent for the first non-Bitcoin blockchain asset to be considered a commodity, thereby increasing hopes for Ethereum peers (possibly Solana) to follow the same path."