The post "SEC Expected to Approve Ethereum ETFs This Summer, Chair Gensler Tells Senate Subcommittee" first appeared on 36crypto.com News.

In a recent development, the US Securities and Exchange Commission Chair, Gary Gensler, appeared before the Senate Appropriations Subcommittee on Financial Services on Thursday and cleared the air regarding the agency's timeline to approve spot Ethereum ETFs for Senator Bill Hagerty, a Republican from Tennessee. Gensler mentioned that the SEC has what it believes will approve the S-1 forms for such ETFs next summer.

Ethereum ETFs Set to Launch Following SEC Greenlight

The SEC has started making efforts toward the approval of Ethereum ETFs, especially in the recent past. It added that the agency suddenly approved listing and trading eight Ether ETFs through the rule change 19b-4 forms. The SEC asked all prospective issuers to file new S-1 forms at the end of May. ETF analyst restricted his comments to his noted progress, which includes the following: "I will be interested in seeing changes in the next batch of amended S-1s, and there can't be that much work left to do."

Several analysts in the industry speculated on Ethereum ETFs which is why Popular Bloomberg analyst James Seyffart said that Ethereum ETFs would go live this summer. "The month of 'July' was to be the month of pure speculation, but I had much more conviction in stating that ETH ETFs will launch sometime during summer, which was kind of like a given," Seyffart remarked in a post on X.

There is also positive action in the #BitcoinETF market, which is expected to enjoy a similar boost from Ethereum ETFs. With this background, Bitcoin ETFs recently experienced $100 million in inflows, with Fidelity's wise origin Bitcoin fund (FBTC) dominating the market. This increase in attention emphasizes the necessity for institutional and new retail investors to invest in cryptocurrency vehicles.

This indicates that the SEC's approval of #EthereumETFs will be a significant milestone in cryptocurrency investment. The prospects for Ethereum ETFs appear particularly promising, given recent events such as regulation change approval and the anticipated summer deployment. Gaining insights, the financial community awaits further developments and the SEC's expected steps. Still, Bitcoin ETFs are seeing large inflows, indicating that there is still a considerable interest in crypto-assets. The future developments we anticipate in the Ethereum ETF market will transform cryptocurrency investment in the following months.