Gary Gensler: ETH ETF Approvals Will Take Time!

SEC Chairman Gary Gensler Discusses ETH ETFs on CNBC

U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler appeared on CNBC to discuss ETH ETFs. The SEC Chairman indicated that the approval of the S-1 might take some time. Gensler mentioned that crypto tokens are not being properly disclosed.

Speaking to CNBC, Gary Gensler stated that ETH ETF approvals would "take some time." His comments suggest that the SEC's delay in the S-1 approval process could unsettle investors. Since the SEC approved Ethereum ETFs, the crypto community has been excited. Recently, the SEC approved the Ether ETF applications of eight issuers.

Gary Gensler Discusses ETH ETFs

During an appearance on CNBC at the HFS Digital Assets Subcommittee hearing, Gary Gensler spoke about the future of Ethereum ETFs. He said, "The next step in Ethereum ETF approvals will take some time." Following the approval of ETH ETFs, the crypto community had hoped for a faster approval of the S-1, but Gensler's remarks indicate that the process will likely take longer. In the interview, Jim Cramer asked Gensler about other tokens with market values in the millions, such as Polkadot, Bonk, and Osmosis.

Cramer also hinted at the possibility of ETFs for other cryptocurrencies, like Sushi Swap. Gensler did not directly comment on Cramer's suggestions but expressed concerns about the operations of crypto issuers. According to the SEC Chairman, many crypto tokens are still not being properly disclosed. Crypto investors need accurate disclosures to make sound investment decisions.

"Crypto exchanges are doing things that the law would never allow the NYSE or traditional exchanges to do."

—Gary Gensler

The SEC approved Bitcoin ETFs in January of this year, which was a significant success. These Bitcoin ETFs are traded on major exchanges such as Nasdaq and the New York Stock Exchange (NYSE).