The president of the SEC points out that it is not clear when they will finally approve the Ethereum spot ETFs, but he assured that these are in due process and that everything has happened as expected.
The president of the US Securities and Exchange Commission (SEC), Gary Gensler, spoke again about the proceedings being carried out on the agenda for the launch of the Ethereum spot ETFs, and although he avoided giving estimated dates, if He assured that the process is going without any type of problem.
Gensler talks about Ethereum ETFs
Gensler's statements came during a summit held by Bloomberg Invest today in New York City, reviewed by The Block, where he took advantage of the moment to ask about Ethereum ETFs and their possible market launch date. US.
In this regard, Gensler stressed that “he does not know the moment” when the verdict will be issued, but confirmed that due process “is going well”:
“It's really about asset managers making full disclosure so that those registration statements can become effective,” the SEC chairman said.
As for the reasons why there is no estimated date yet, Gensler informed attendees that the SEC is taking the due process of evaluating the S-1 forms submitted by the administrators very seriously, adding:
It's something our Corporate Finance Division handles hundreds, if not thousands, of times throughout anyone's career. [The process] is running smoothly; It is really up to the asset managers to make the appropriate disclosures and accuracies.
With this last comment, Gensler took advantage of the space to express his concern with the cryptocurrency sector, reiterating that many of the assets traded in the market are securities, and that exchanges are not adhering to the regulations currently in force.
Although Gensler limited himself to saying that the process is continuing and that everything is going well, there are many theories in the air about the date on which the Ethereum ETFs would arrive in the US market.
Weeks ago, Gensler himself anticipated that these exchange-traded funds could arrive at the end of the summer, that is, by the end of August or beginning of September, as long as the process goes as expected.
However, the one who generated very good expectations about the possible date was Eric Balchunas, a Bloomberg analyst, who specified that at least in the case of VanEck, his fund could be approved in the next seven days. He compared the process that the company carries out with its Ethereum ETF and what it did at the time with the one based on Bitcoin, and estimates that if certain conditions are met we could see the desired funds for next week.
Finally, and against the thesis that the approval of the Ethereum ETFs
are an electoral issue, Gensler declined to comment and clarified that
would not issue opinions on the upcoming presidential elections.
