Is wBTC a security?

Could you please clarify if wBTC is considered a security? I've been hearing mixed opinions about this topic, and I'm quite perplexed. As a professional in the field of cryptocurrency and finance, I'm sure you have a deep understanding of this matter. Could you explain the reasons behind classifying wBTC as a security or not? Would it depend on the jurisdiction or the specific characteristics of wBTC? I'm eager to hear your thoughts on this.