Spot ETH ETF Approval Update: SEC's Gary Gensler 'Staying Tuned'

IconCryptoNewsTerminal Staff23 May, 2024

cryptonews.jpg

Spot ETH ETF Approval Update: SEC's Gary Gensler 'Staying Tuned'

SEC Chairman Gary Gensler has hinted at potential developments regarding the approval of a spot ether (ETH) exchange-traded fund (ETF). According to Coindesk, Gensler stated, "Stay tuned" on the matter. In response to inquiries about a specific spot ETH ETF filing, Gensler indicated that he was not aware of any such filings. However, he acknowledged ongoing discussions and differing viewpoints within the regulatory landscape. "The SEC will apply the law as it finds it, as the courts have interpreted the law. [But] there have been public statements from folks in Washington that perhaps have a different view than the SEC has had traditionally, and the SEC is taking that into account," Gensler said. "The SEC is going to continue to engage with the market," he added. This update follows a recent letter sent to the SEC by a bipartisan group of U.S. House lawmakers urging the agency to approve a spot ETH ETF. Gensler has previously expressed concerns about the prevalence of fraud in the crypto market and emphasized the need for increased regulatory oversight.

Related News