In April 2024, the SEC investigated Ethereum’s ecosystem, drawing attention due to potential securities violations. ConsenSys, associated with MetaMask, was warned of impending action. By September, litigation was dismissed, partly benefiting Ethereum as a new SEC head supportive of crypto emerged.

The SEC’s approval of Ethereum spot ETFs in July 2024 did not significantly boost ETH prices, unlike Bitcoin’s surge. Despite being crucial in easing SEC’s security concerns, the price of ETH remained below its 4,878 USD peak set in 2021, leaving investors disappointed.