U.S. Securities and Exchange Commission Chairman Gary Gensler said final approvals for exchange-traded funds (ETFs) that trade Ethereum's ether {{ETH}} should be completed this summer. 😎

Gensler noted that once a group of ETFs were initially approved, the process went smoothly. The agency had previously approved the first round of applications, but now final registration requirements – files known as S-1s – are being handled at the “staff level.”👏

Once these filings are approved, new ETFs can be listed, opening up broad markets for easy-trade funds that hold real ether, just as bitcoin spot ETFs previously held {{BTC}}.🚀

When asked directly whether ETH is a commodity, Gensler did not answer with yes or no, maintaining the ambiguous status his agency holds on the asset. At the same hearing, when asked if it was a commodity, Rostin Behnam, chairman of the Commodity Futures Trading Commission, replied: "Yes."🤔

Read more: SEC's Gensler Shrugs About New Crypto ETFs Rolling Through His Agency's Doors.

I'm waiting for your comments! Do you think ETH is a commodity? 🤷‍♂️#DeFi#Web3