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Heads up: The CLARITY Act is not law. Statuses are rules-based estimates from public evidence, not legal or financial advice.
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Bitcoin vs Ethereum: which is a security?

Likely status under the proposed CLARITY Act, side by side. Last updated Oct 19, 2026.

Verdict

On current evidence both are rated "Likely digital commodity" (BTC: High, ETH: High confidence). Neither has a stronger case than the other.

BitcoinBTC
Likely statusLikely digital commodity
EthereumETH
Likely statusLikely digital commodity

Confidence

BTC:
ETH:

Main reason

BTC: named as a digital commodity in the SEC's March 2026 interpretation (with CFTC guidance).
ETH: named as a digital commodity in the SEC's March 2026 interpretation (with CFTC guidance).

US exchange access

BTC: Coinbase (US incl. NY)
ETH: Coinbase (US incl. NY)

ETFs / CFTC futures

BTC: US-listed BTC exchange-traded products trading as of Oct 19, 2026 (per tracker): iShares Bitcoin Trust (IBIT), Fidelity FBTC, Grayscale GBTC…
A CFTC-registered exchange (Bitnomial) certified listed spot BTC contracts.
CME (CFTC-regulated) lists Bitcoin futures, including Spot-Quoted Bitcoin futures.
ETH: US-listed ETH exchange-traded products trading as of Oct 19, 2026 (per tracker): iShares Ethereum Trust (ETHA), Fidelity FETH, staking ETFs …
A CFTC-registered exchange (Bitnomial) certified listed spot ETH contracts.
CME lists Ether futures, including Spot-Quoted Ether futures.

Key official sources

BTC: CFTC: A CFTC-registered exchange (Bitnomial) certified listed spot BTC contracts. ↗
Federal Register (SEC & CFTC): The SEC's March 2026 interpretation lists Bitcoin (BTC) as an example of a 'digital commodity' (not itself a security), … ↗
CFTC: CFTC complaint against Binance states BTC is a 'commodity' under the Commodity Exchange Act. ↗
ETH: CFTC: A CFTC-registered exchange (Bitnomial) certified listed spot ETH contracts. ↗
Federal Register (SEC & CFTC): The SEC's March 2026 interpretation lists Ether (ETH) as an example of a 'digital commodity' (not itself a security), ba… ↗
CFTC: CFTC complaint against Binance states ETH is a 'commodity'. ↗

Questions

Is Bitcoin or Ethereum more likely to be a security?

On current evidence both are rated "Likely digital commodity" (BTC: High, ETH: High confidence). Neither has a stronger case than the other. Not legal advice.

Is BTC a security?

Probably not, on current evidence. ClarityCheck rates Bitcoin as a likely digital commodity (high confidence): Named as a digital commodity in the SEC's March 2026 interpretation (with CFTC guidance). This is not legal advice, and the CLARITY Act is not law.

Is ETH a security?

Probably not, on current evidence. ClarityCheck rates Ethereum as a likely digital commodity (high confidence): Named as a digital commodity in the SEC's March 2026 interpretation (with CFTC guidance). This is not legal advice, and the CLARITY Act is not law.

Full BTC evidence → · Full ETH evidence →

Not legal, financial or investment advice. The CLARITY Act is not law. Facts are from the linked sources as checked on Oct 19, 2026; please tell us if anything is out of date.