In an interview with Bloomberg, Gary Gensler, Chair of the U.S. Securities and Exchange Commission (SEC), discussed the regulation of cryptocurrencies and the progress of the approval process for spot ethereum exchange-traded funds (ETFs). Gensler stated that the process is proceeding smoothly, highlighting the importance of asset managers providing full disclosure in their registration statements for the ETFs to be effective.
The SEC approved Form 19b-4 for eight spot Ethereum ETFs in May, but the launch of these ETFs is contingent on the approval of their registration statements (S-1 filings), which the SEC has not yet granted. Gensler acknowledged that the timing of the launch is uncertain but reiterated that the process is moving forward smoothly.
When asked about the possibility of spot ethereum ETFs launching before the November presidential election, Gensler maintained that he does not have control over the staff’s actions but assured that the process is progressing smoothly. He emphasized that asset managers play a crucial role in ensuring proper disclosures are made for the registration statements.
Gensler previously expressed his vision of spot ether ETFs launching during the summer. However, he has not definitively classified ETH as a security or commodity. Notably, the SEC has ended its investigation into Ethereum 2.0.
The comments made by SEC Chair Gary Gensler regarding the smooth progress of the approval process for spot ethereum ETFs have generated interest and discussion. What are your thoughts on this development? Share your opinions in the comments section below.
