Eth and BTc are quite different and Eth is absolutely a security.

Eth meets the Howey test. BTc arguably does not due to its manner of distribution and initiation.

According to the SEC chairman, ETH may have been a security at first but it's not anymore.

https://coincenter.org/link/sec-chairman-clayton-just-confir...

Yes, the SEC has handwaved it out of being a security.

That doesn’t change facts, they simply aren’t going to do anything about it.

Do we know for sure how it was distributed and initiated BT though? We don't even know who "Satoshi Nakamoto" is.

What entity are you investing in when you purchase ETH?

Vitalik Buterin and the other whales who started it.

Development has expanded far beyond that crowd. There are eight different groups working on 2.0 clients, for example. This was part of the SEC's reasoning.