SEC Chair Gary Gensler Hints Ethereum Spot ETF S1 Approval Might Be Expected This Summer

Gary Gensler hinted that approval of S1 forms of Ethereum spot ETF will be possible somewhere between June to August.

SEC Chairman Gary Gensler hinted at the possibility of approving S-1 forms of the Ethereum spot ETF sometime between June and August.

Multiple Ethereum spot ETF proposed applications were approved by the United States Securities and Exchange Commission (SEC) in May 2024, but approval for trading is still pending. At the time, most ETF experts predicted that the SEC body would take a few weeks to a few months to give the green light for trading these products.

During a Senate Appropriations Committee hearing on June 14, 2024, US SEC Chairman Gary Gensler stated that S-1 approval for an Ethereum ETF could be expected this summer.

Gensler's statement confirms that the SEC is processing ETF spot ETF applications.

“Individual issuers still are working through the registration process. That’s working smoothly. And I would envision sometime throughout this summer,” Gensler stated.

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Eric Balchunas, an ETF expert at Bloomberg, commented on the recent news, noting that issuers of the Ethereum ETF are still waiting for feedback from the SEC's Division of Corporation Finance (Corp Fin) on their S-1 filings, which were submitted two weeks ago. According to Balchunas, Corp Fin is only now reviewing these documents, possibly due to an unexpected last-minute decision driven by political factors, which surprised even them.

He also mentioned that it is unclear if this review is being prioritized, suggesting that there could be more delays. He also expects that they might have to adjust their expectations for a decision by July 4th but this remains uncertain.

Makes sense. What I heard: issuers still waiting to get comments from Corp Fin on S-1s which they handed in 2wks ago. Corp Fin is just looking at these docs for first time (why? bc of the (highly likely) political last min 180 (remember they were as surprised by this as anyone…

Ethereum price action

The current trade price of the Ethereum (ETH) coin is $3,500 & this trade price is 8% down over the last 7 days.

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News source：https://www.kdj.com/cryptocurrencies-news/articles/chair-gary-gensler-hints-ethereum-spot-etf-s-approval-expected-summer.html

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