Gary Gensler, chairman of the U.S. Securities and Exchange Commission (SEC), said that the Ethereum ETF has actually been approved, and all that remains is to finalize the registration details at the staff level.

Gensler reiterated his complaints about non-compliance in the cryptocurrency industry, refused to answer whether ETH is a commodity, and argued that the Commodity Futures Trading Commission (CFTC) is not yet ready to regulate the cryptocurrency market.

In addition, CFTC Chairman Rostin Behnam also talked about the agency's efforts to ban prediction market election contracts.

During a budget hearing on Thursday, Gensler told senators that final approval of the Ethereum ETF is expected to be completed this summer. During the hearing to defend the market regulator's budget, Gensler told a subcommittee of the Senate Appropriations Committee that the process is "going well" after preliminary approval of a group of ETFs. The SEC previously approved the first round of applications, but he said the final registration requirements - so-called S-1 filings - are now being processed at the "staff level."

Once these documents are approved, the new ETFs can be listed, opening up a wider market for easily tradable funds that hold actual Ethereum, just like the earlier approved ETFs that hold Bitcoin spot. The SEC initially blocked applications for bitcoin ETFs until a federal court ruled that the agency had mishandled the process. Gensler said the SEC has since followed through on that decision and allowed them to go public. #内容挖矿