According to Bloomberg, Gary Gensler, Chairman of the U.S. Securities and Exchange Commission (SEC), stated that individual issuers are still in the process of registration, which is proceeding smoothly. This statement was made during a Senate Appropriations subcommittee hearing on Thursday. Gensler's comments further indicate that the much-anticipated launch of certain financial products is on track.
The final approval of a few issuer registration statements is contingent on the quality of disclosures provided to investors. Gensler clarified that this process is being managed at the staff level. The SEC had previously given the green light for the launch of spot Bitcoin Exchange-Traded Funds (ETFs) in January.
Gensler was responding to inquiries from Senator Fund managers at various companies. However, the details of these questions and the companies involved were not specified in the original report.