Grayscale: SEC Rule Change Could Boost ETH, SOL, BNB; On-chain Issuance to Drive Value Return

Grayscale's read matters less as a price call than as a signal about how regulated venues might treat tokens with active on-chain issuance. If the rule change holds, the dividing line shifts from which assets are listed toward which networks can route value back to holders — a structural question for ETH, SOL and BNB alike. Whether that framing survives contact with actual SEC implementation is the open question.