This would not invalidate any outstanding ether derivatives. It would, however, move them into the joint jurisdiction of the CFTC and the U.S. Securities and Exchange Commission (SEC).
This becomes significant when you compare the two securities regulators’ views towards crypto assets. The CFTC has long championed the innovation behind cryptocurrencies – former chairman Chris Giancarlo is affectionately known in the blockchain sector as “Crypto Dad” – and the new chairman’s recent comments referenced earlier show that he seems to feel the same.

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