Gary Gensler: Ethereum ETFs Will Be Approved After Summer
In a budget hearing on Thursday, US Securities and Exchange Commission Chair Gary Gensler told senators that the final approvals for trading exchange-traded funds (ETFs) of Ethereum’s Ether (ETH) should be completed this summer.
He explained that the process has been running smoothly after the initial approval of a group of ETFs.
According to Gensler, the agency is currently handling the final registration requirements at the staff level, and once those filings are given the green light, these new ETFs can be listed.
This will make it easier for investors to trade in funds that hold actual ETH, similar to the establishment of spot Bitcoin ETFs earlier on.
The SEC initially rejected the idea of Bitcoin ETFs but after a federal court ruled that it was mishandling the matter, Gensler has stated that the agency has been following that decision and has been allowing them.
