US SEC Chairman: Timing of Ethereum ETF Launch Hinges on Company Filings
CryptoNewsTerminal Staff06 Jun, 2024
US SEC Chairman: Timing of Ethereum ETF Launch Hinges on Company Filings
The launch timeline for a spot Ethereum exchange-traded fund (ETF) in the United States remains uncertain, according to Securities and Exchange Commission (SEC) Chairman Gary Gensler. In an interview with Reuters, Gensler stated that the timing would depend on the pace at which companies submitted and addressed regulators' inquiries. He refrained from providing a specific timeframe, indicating that it could take weeks or months. Gensler also noted that the ongoing legal battle between the SEC and Grayscale Investments over a spot Bitcoin ETF had influenced the SEC's approach to a spot Ether ETF. The outcome of the lawsuit, he said, would be a significant factor in the SEC's decision-making process. Moreover, Gensler emphasized the importance of considering the correlation between Ether and the broader financial markets when evaluating the potential approval of a spot Ether ETF. This approach aligns with the SEC's assessment of Bitcoin, for which correlation played a crucial role in the agency's decision-making.
