SEC Chairman Gives a Hint for Ethereum Good News: “It Will Take Time”

US Securities and Exchange Commission (SEC) Chairman Gary Gensler gave a hint about the expected news in Ethereum.

Last month, the SEC approved 19b-4 applications to establish a spot Ethereum ETF. In order for ETFs to enter the market, their S-1 filings must also be approved.

It can be a long process

Gary Gensler said in a program he attended on CNBC that it "may take some time" for Ethereum ETFs to be approved.

This means the approval process for S-1s can take a long time, according to FOX Business's Eleanor Terrett.

Unlike other applications, there is no deadline for approval of S-1 filings. Therefore, the SEC may delay this process to the extent it deems appropriate.

He criticized crypto exchanges

Talking about the general cryptocurrency market, the SEC Chairman said that many tokens in the market do not adequately inform the public and do not comply with the law. Gensler stated that these clarifications are essential for investors to make informed decisions.

Giving an example from the New York Stock Exchange (NYSE), Gensler said, “Exchanges are properly regulated to prevent fraud and manipulation.” "It's not trading against you," Gensler said, adding, "Crypto exchanges are doing things we would never allow the NYSE to do."