Crypto News Today- SEC Chief Gensler Indicates Spot Ether ETF Launch Timing Dictated by Issuers

Crypto News Today- SEC Chief Gensler: Launch Timing of Spot Ether ETF Relies on Issuers

Crypto News– Last month, the U.S. Securities and Exchange Commission (SEC) approved 19b-4s filings from potential spot ether ETF issuers, leading to a 30% surge in the price of ether over two days. Despite this initial excitement, ether’s price has since stabilized around $3,800, while anticipation for the commencement of ether ETF trading persists.

The SEC is presently reviewing S-1 filings or registration statements from these issuers before the funds can officially enter the market. According to SEC Chairman Gary Gensler, the timing of this process depends largely on the responsiveness of the issuers themselves.

When questioned by Reuters about the expected duration of this process, Gensler refrained from specifying a timeline, stating that registrants are self-motivated to be responsive to the comments they receive, but it’s really up to them how responsive they are.

It appears unlikely that Gensler anticipates an immediate launch. During an interview with CNBC’s Squawk on the Street, he indicated that the introduction of spot ether ETFs is expected to take some time. While he declined to provide specific timelines for the listing of these ETFs, Gensler highlighted that the applications were undergoing standard review procedures, which inherently require time.

Furthermore, Gensler took the opportunity to critique certain crypto projects for their inadequate disclosure practices, although he refrained from mentioning specific tokens.

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