Spot Ether ETF approvals will ‘take some time’ — Gary Gensler
The SEC Chair spoke on CNBC on June 5, suggesting the commission could delay approving S-1 registration statements for exchanges listing spot Ether ETFs.
United States Securities and Exchange Commission (SEC) Chair Gary Gensler has suggested that there might be a delay over final approvals for asset managers offering spot Ether (ETH) exchange-traded funds (ETFs) on exchanges.
In a June 5 interview on CNBC, Gensler said the next steps on the SEC’s approval of spot Ether (ETH) ETFs will “take some time,” hinting at the commission delaying or moving slowly on signing off on S-1 registration statements. On May 23, the SEC gave the green light to 19b-4 filings from VanEck, BlackRock, Fidelity, Grayscale, Franklin Templeton, ARK 21Shares, Invesco Galaxy and Bitwise. However, final approvals that would allow the listing and trading of ETFs on U.S. exchanges could take months.
The SEC chair added in the interview that cryptocurrency firms were engaging in activities that laws didn’t allow traditional exchanges to do, suggesting that the commission’s position on enforcement actions was unlikely to change under Gensler. The financial regulator has filed lawsuits against Ripple, Coinbase, Binance and Kraken. However, it has also been forced to close one of its regional offices after a Utah judge ordered the SEC to pay $1.8 million over “bad faith conduct” in court.
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Author: Turner Wright
