Golden Finance reported that Gary Gensler, chairman of the U.S. Securities and Exchange Commission (SEC), said on Wednesday that when a spot ETF linked to the cryptocurrency Ethereum will begin trading depends largely on how quickly the issuer responds to the SEC's inquiries. He said, "These registrants will proactively respond to the comments they receive, but the extent of the response really depends on them." Gensler declined to say whether he thought the process would take weeks or months. Gary Gensler and SEC officials have not previously commented on why the SEC made a U-turn and approved the application for a spot Ethereum ETF, but he said on Wednesday that the lawsuit filed by Grayscale last year forced the SEC to approve the spot Bitcoin ETF in January, which affected the SEC's view of Ethereum.