XRP is an unregistered security but ETH is not, Peter Brandt stated
Seasoned commodity trader Peter Brandt has spotted a view on all aspects of life and stated that XRP is a security, under the new SEC head.
Peter Brandt still holds the view that XRP is an unregistered security
Not long ago, as AZCoin News reported, Veteran commodity trader Peter L. Brandt shared a screenshot of a chart that shows a potentially constructive pattern for the Ripple’s native token. According to him, the token is forming an Inverse Head and Shoulders pattern and in the long term, the token is potentially rising.
Previously, he has demonstrated disdain multiple times for XRP and urged the SEC to proclaim its security long before the regulatory agency initiated its lawsuit against Ripple over the same issue in late December 2020. This year, however, the veteran commodity trader has several times posted bullish tweets on XRP.
And now, Brandt is back to his old position, still holding the view that XRP is an unregistered security. Perhaps the old-school commodity trader feels the regulatory uncertainty surrounding XRP is a deterrent for traders. But, the good news is, although he thinks these are securities, this does not prevent him from owning the token under the right circumstances.
Source: Peter Brandt
Although it is a trio with BTC and ETH, only XRP is considered a security. When asked about ETH’s status, whether Brandt views Ethereum’s native token as a security, he said he personally doesn’t believe ETH is a security because of its completely different structure.
Elsewhere, some sources in the SEC are said to have told Fox Business’ Charles Gasparino that ETH is a commodity because its ecosystem is already built out.
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