Ethereum ETF Progress
During an interview at the Bloomberg Investment Summit, SEC Chairman Gary Gensler showed confidence about the approval progress of Ethereum ETFs. He didn't give a specific timeline for this approval though.
Gensler did not say anything about how the current administration's stance on cryptocurrencies might affect the upcoming elections.
On Ethereum ETF Approval Progress:
Gensler emphasized that the focus now is on asset managers. He mentioned:
It's all about full disclosure by asset managers for these registration statements to become effective.
He said the process was going well but did not provide an exact timing.
Earlier, Gensler hinted that Ethereum ETFs might start by summer.
Last month, the SEC approved 19b-4 forms, which opened the door for this investment class.
Right now, the agency and issuers are working on S-1 filings, which have to be approved before the products can start trading.
Some analysts think Ethereum ETFs could start on July 2.
Recently, some asset managers have updated their applications for these financial tools.
For instance, investment firm BlackRock issued updated statements showing fees and initial funds deposited in the fund.
Also, VanEck has filed a Form 8-A, getting closer to approval.
One week and the picture gets clearer about Ethereum ETF and its official trading date.