News View Non-AMP

Is the Ethereum ETF Launch Date Closer Than We Think? Gensler Weighs In

Published by
Nidhi Kolhapur

Have you thought about this?

Unlocking the potential of U.S. spot Ether exchange-traded funds (ETFs) rests on the responsiveness of issuers to feedback from the Securities and Exchange Commission (SEC), as highlighted by SEC Chair Gary Gensler. He reassures that the SEC is committed to a timely approval process.

There’s been notable progress, with the SEC greenlighting eight 19b-4 filings for spot Ether ETFs. However, the start of trading awaits approval of S-1 registration forms. Gensler stresses that the pace of these approvals hinges on how promptly issuers address the SEC’s feedback, influenced by various factors.

Understanding Grayscale’s Impact

A key consideration for the SEC regarding Ethereum ETFs is the precedent set by Grayscale’s legal challenge regarding Bitcoin ETFs. Grayscale argued that if Bitcoin futures ETFs are approved, spot Bitcoin ETFs should follow suit. This legal win sets a similar tone for Ethereum ETFs. Gensler points to the similarities between Bitcoin (BTC) and Ether (ETH), signaling a regulatory shift towards inclusivity in crypto ETFs.

Well, does Politics play a role?

While legal and market factors drive regulatory decisions, political influences may also be at play. Bloomberg ETF analyst James Seyffart suggests that SEC Commissioner Jaime Lizárraga’s ties to prominent Democrat Nancy Pelosi could be influential. Pelosi advocates for the Financial Innovation and Technology for the 21st Century Act, aiming to foster crypto innovation.

This political support may align with a broader strategy to cater to the growing pro-crypto sentiment among voters ahead of the U.S. general elections.

Broader Concerns: Gensler’s Perspective on the Crypto Market

Beyond Ethereum ETFs, Gensler raises broader concerns about the crypto market. In a June 5 interview, he criticized unethical practices on crypto exchanges, such as trading against customers—a practice prohibited in traditional financial markets like the NYSE. He highlights the SEC’s ongoing efforts to enforce regulations and bolster market integrity. Gensler also points out significant regulatory gaps, especially in disclosure standards, leaving investors exposed.

His remarks emphasize the need for a robust regulatory framework to safeguard investors.

Welp, it’s really not safe out there. What do you think – is SEC approval imminent?

Also Read: Is China Unbanning Crypto? Top Analyst Lists Altcoins to ‘Stack’ Before Massive Influx of Capital

Nidhi Kolhapur

Nidhi is a Certified Digital Marketing Executive and Passionate crypto Journalist covering the world of alternative currencies. She shares the latest and trending news on Cryptocurrency and Blockchain.

Recent Posts

BTC Price Volatility Spikes Up—Is it a Good Time to Buy Bitcoin?

The US markets are experiencing one of the massive pullbacks, with major stocks plunging by…

April 3, 2025

Forget PEPE – Influencer Pepe (INPEPE) is the Future of Meme Coins with Real Utility!

PEPE hopped its way to a $3.8 billion market cap, but its reign as a…

April 3, 2025

Ripple (XRP) Eyes $10 as Ruvi AI (RUVI) Captures Investor Attention with Huge Growth Potential During Presale Phase 1

Ripple’s (XRP) recent rally from $2.00 to $2.20 has sparked excitement among cryptocurrency enthusiasts. This…

April 3, 2025

How High Can Influencer Pepe Go? Expert Predictions for 2025-2030!

The crypto circus has a new ringmaster: Influencer Pepe (INPEPE). This Pepe-the-Frog-inspired token is making…

April 3, 2025

Crypto Bloodbath: Solana, XRP, and Dogecoin Take Double-Digit Hits, Is Your Altcoin Safe?

The global cryptocurrency market took a major hit today, with the total market capitalization falling…

April 3, 2025

Just In: Michael Saylor Says ‘There Are No Tariffs on Bitcoin’

The cryptocurrency market took a nosedive Thursday, with Bitcoin and its digital cousins feeling the…

April 3, 2025