SEC Chairman Gary Gensler Suggests Ethereum Spot ETFs Will Be Approved This Summer
Speaking during a Senate hearing last Thursday, SEC Chairman Gary Gensler suggested to lawmakers that Ethereum spot ETFs could be approved this summer.
“The requests that we had in front of us from the stock exchanges, I think there were eight or nine of them, were all approved jointly. Individual broadcasters are still working through the registration process, which is going smoothly, and I imagine at some point during the summer,” Gensler said during the hearing.
The SEC approved 19b-4 filings last month, allowing US exchanges to list Ethereum spot ETFs, however, it has not yet approved S-1 filings from individual ETF issuers. Both are necessary for spot ETFs to activate.
Despite the good news, the price of ethereum saw little movement. Ethereum is currently hovering around the $3,400 level, about 40% away from the November 2021 all-time high.
