SEC Chair Discusses Timeline for Ethereum ETF Launches
SEC Chair Gary Gensler discussed the potential timeline for the launch of spot Ethereum ETFs, emphasizing that it hinges on how swiftly applicants address the SEC's inquiries and respond to reasons for approval.
Speaking to Reuters on June 5, Gensler noted that firms are driven to engage with SEC comments and have the autonomy to gauge their responsiveness.
Reports indicate that the SEC will review recently amended S-1 registrations from eight spot Ethereum ETF issuers, with applicants expected to file additional amendments before each product’s launch. However, Gensler refrained from specifying whether this process would span weeks or months.
Gensler highlighted Grayscale’s legal victory, which influenced the SEC’s stance on spot ETH products, drawing parallels to Bitcoin ETF approvals based on market correlations between spot and futures markets. This approach, previously applied to Bitcoin and Ethereum futures ETFs, contributed to the SEC’s approval of spot Bitcoin ETFs in January.
READ MORE: BitMEX Increases Ethereum Leverage to 200x Following SEC Approval
In a CNBC interview on June 5, Gensler reiterated that spot ETH ETF launches might require a significant duration, refraining from speculating on a precise launch date. He emphasized that the SEC evaluated market correlations, comparing spot Ethereum to its futures market, particularly citing ETH futures ETFs trading on the Chicago Mercantile Exchange for over three years.
Despite industry speculation, including Bloomberg ETF analyst Eric Balchunas’ prediction of potential launches by the end of June, the community bets represented on Polymarket suggest a 57% likelihood of funds commencing trading by July 4.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
