In an interview during the Bloomberg Investment Summit, SEC Chairman Gary Gensler expressed confidence in the smooth progress of the approval process for Ethereum ETFs.
However, Gensler did not provide a specific timeline for this approval.
Gensler declined to comment on the impact of the current administration’s position on cryptocurrencies on the upcoming elections.
Ethereum ETF Approval Progress:
Gensler stressed that the main focus now is on asset managers, saying:
It is a matter of full disclosure by asset managers for these registration statements to become effective.
He stressed that the process was going smoothly, although he did not specify an exact timing.
Initially, Gensler suggested that Ethereum ETFs might start operating by the summer.
Last month, the Securities and Exchange Commission approved 19b-4 forms, paving the way for this investment class.
Currently, the agency and issuers are working on S-1 filings, which need to be approved before products can begin trading.
Some analysts expect Ethereum ETFs to launch on July 2.
Recently, some asset managers have revised their applications for these financial instruments.
For example, investment firm BlackRock issued revised statements detailing fees and initial funds deposited in the fund.
In addition, VanEck has filed a Form 8-A, bringing it closer to approval.
One week and the vision becomes clearer about the Ethereum ETF and its official trading date.
