SEC Chair Gensler: Spot Ethereum ETF Approval Process 'Going Smoothly'
U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler says that the spot ethereum exchange-traded fund (ETF) approval process is âgoing smoothly.â He stressed that âitâs really about the asset managers making the full disclosure so that those registration statements can go effective.â
SEC Chair Gensler on Spot Ethereum ETF Approval
U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler discussed crypto regulation and the approval process for spot ethereum exchange-traded funds (ETFs) in an interview with Bloomberg on Tuesday.
The SEC approved Form 19b-4 for eight spot Ethereum ETFs in May, but before these ETFs can be launched, their registration statements (S-1 filings) must also receive approval, which the SEC has not yet granted.
When questioned about the launch timeline for spot Ether ETFs, Gensler stated: âWhat is in front of us â and itâs done at the staff level â is whatâs called the registration statements, the disclosure statements. And again, these disclosures are really important. Theyâre important to investors making investment decisions.â He emphasized:
I donât know the timing, but itâs going smoothly.
When asked if spot ethereum ETFs would launch before the November presidential election, the SEC chairman insisted: âAgain, Iâm not trying to determine what the staff is doing, but itâs going smoothly.
âItâs really about the asset managers making the full disclosure so that those registration statements can go effective,â Gensler explained. He noted that the SECâs division of corporation finance handles this process hundreds, if not thousands, of times over a career. âItâs smoothly functioning,â he opined. Ultimately, he stressed: âItâs really up to the asset managers to make the proper disclosures.â
Gensler recently stated that he envisions spot ether ETFs launching this summer. Meanwhile, the SEC chairman has not provided a definitive answer on whether ETH should be classified as a security or a commodity. However, the SEC has dropped its investigation into Ethereum 2.0.
What do you think about SEC Chair Gary Gensler saying that the approval process for spot ethereum ETFs is going smoothly? Let us know in the comments section below. #Write2Earn