SEC Chairman: Ethereum spot ETF will open trading within the next 3 months
During a June 13 hearing at the US Senate Appropriations Committee, Tennessee Senator Bill Hagerty asked Chairman of the US Securities Commission (SEC) Gary Gensler about why the SEC had not approved it. purely Ethereum ETFs.
Mr. Gensler said:
“The approval process is going smoothly after the 19b-4 application was approved. Currently, S-1 filings are in the review stage and the listing of Ethereum spot ETF shares could be completed within the next 3 months.”
While Gensler's answer was not specific, it still reveals the SEC's stance on ETH. The partial approval sees the Ethereum ETF considered in the same way that Bitcoin and ETH ETFs can be considered commodities. The SEC's May 23 announcement also recognized Ethereum ETFs as asset-trading funds of a "commodity" nature, indirectly refuting the "security" argument for ETH.
