During a hearing before the Senate Agriculture Committee, Benham said:

“I’ve made the argument that Ethereum is a commodity…it’s been listed on CFTC exchanges for quite some time.”

Benham also commented on stablecoins, stating:

“I agree … that stablecoins are and should be … regulated financial instruments. Not withstanding a regulatory framework arounds stablecoin, they’re going to be commodities in my view.”