SEC Chairman Gary Gensler made it clear that the agency is in no hurry to finalize approval and launch of spot Ethereum ETFs. On #CNBC, he made it clear that the next step will not happen in the next few days. And “it will take some time.”
FOX Business crypto journalist Eleanor Terrett comments:
“SEC Chairman Gary Gensler says the next step in approving the $ETH ETF “will take some time,” possibly indicating a potential slowdown in the S-1 approval process.”
Traditionally, Gensler made a hostile statement on crypto exchanges. Having said that they are "doing what the law would never allow the NYSE or traditional exchanges to do."
We have already written that the scenario of a pause (within reasonable limits) before the final wait and launch of spot Ethereum ETFs is even positive for the market. Markets are rising on expectations. And the expectation for the spot Ethereum ETF compared to the expectation for the spot Bitcoin ETF is even more positive. Because consent in principle has already been received from the regulator and it’s just a matter of bureaucratic formalities and details.
If you are fueled by positive news feeds, you can wait a month for the approval of S-1 forms. The main thing is for market players to understand that the process is underway.
