Ether ETFs Should Be Fully Approved by September, Says SEC Chair GenslerThe

chair of the Securities and Exchange Commission told senators in a budget hearing that the applications to run ether spot ETFs should be finished this summer.

- Securities and Exchange Commission Chair Gary Gensler suggested the ether ETFs are really already approved and all that remains are the registration details getting hammered out at the staff level.

- Gensler repeated his complaints about the noncompliant crypto industry, demurred on answering whether ETH is a commodity and argued that the CFTC isn't ready to police crypto markets.

- Commodity Futures Trading Commission Chair Rostin Behnam also addressed his agency's effort to ban elections contracts in the prediction markets.

The final approvals for exchange-traded funds (ETFs) trading Ethereum's ether (ETH) should be finished this summer, U.S. Securities and Exchange Commission Chair Gary Gensler told senators in a budget hearing on Thursday.

Gensler told a subcommittee of the Senate Appropriations Committee in a hearing justifying the market regulator's budget that the process is "working smoothly" after the initial approval of a group of ETFs. The agency had previously granted the initial round of applications but he said the final registration requirements – filings known as S-1s – are now being handled at the "staff level."

Once those filings are approved, the new ETFs can be listed, opening the wider markets to easy-to-trade funds that hold actual ether, much like the earlier establishment of bitcoin spot ETFs that hold (BTC).The SEC had initially blocked the effort for bitcoin ETFs until a federal court ruled the agency was mishandling the matter, and Gensler has said the SEC has since been following that decision and allowing them.

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