No doubt you put in a lot of hard work. Just like people put a lot of hard work into acquiring investment in Bernie Madoff's fund, or acquiring XRP tokens, buy trading their hard earned cash. The issue here, is whether seemingly illegally issued tokens, can nevertheless become shares which can be legitimately traded on exchanges. Your best hope, I think, is that the SEC punishes the issuers, settles with them, but allows the tokens to trade. Its possible this would happen (eg Vitalik gets a Billion dollar fine and hands over x amount to Eth to the US Government), maybe serves some token time (no pun intended) and then all goes ahead. There are some easily examples of such agreements with illegal issuers, EOS I think being one. So there is hope. Same with Ripple - I think the SEC wants around 5B to settle? But to go so far as to allow something with these origins to be traded as a security in an ETF is going a step too far I think. (Again, nothing personal view, but just applying the law as I see it).
Lets see. I have a little ETH, but would likely still be more harmed by dilution of BTC by ETH, than I would be benefitting from ETH being allowed into a US ETF. So, for me personally, I would prefer to see BTC as the only ETF for a long time ahead. The other big problem is where to draw the line. If ETH is legitimized, then arguably the floodgates are opened to any issuer of securities to circumvent the SEC.
THE SEC is like the Mafia's enforcer shaking down businesses for "protection". Should just be shutdown IMO. Stop trying to babysit people. Let the chips fall where they may. When have they ever protected anyone? What's their purpose if they are not protecting investors? To harass and fine? I don't get it. They need to offer me as a tax payer something of value. How have I or you ever benefitted from them? Have they made me money? Some of my taxes went to the SEC. I want a return on my investment!
The SEC is also only in the USA. That's one country amongst many. The US population is a little over 333 million. That's around 4.1% of the world's current almost 8 billion. Why should the rest care about whatever the USA decides? Hong Kong already approved Spot ETH funds. The SEC will only be hurting US investors. The rest of the world will be fine. And last I checked, the USA is basically bankrupt. The influence it will have over crypto markets will severely diminish in the not too distant future.
If anything, Bitcoin, Ethereum and many other cryptos will be a life raft for US citizens. Almost all crypto tokens are better than the US dollar.
https://www.usdebtclock.org/