SEC Chair Gensler Says Ethereum ETF Review 'Going Smoothly'

Zinger Key Points
  • SEC Chair Gary Gensler reports smooth progress on Ethereum ETF review but declines to provide specific approval timeline.
  • The SEC chair consistently avoids commenting on cryptocurrency's growing influence in the upcoming presidential election landscape.

U.S. SEC chair Gary Gensler highlighted on Tuesday the smooth progress of Ethereum ETF filings, indicating that the final decision lies with asset managers to make full disclosures for the registration statements to go effective.

Speaking at the Bloomberg Invest Summit, he said, “I don’t know the timing, but it’s going smoothly,” when asked about the possibility of seeing an Ethereum ETH/USD ETF in the coming weeks.

He elaborated, “It’s really about the asset managers making full disclosure so that those registration statements can go effective.”

The SEC chair noted Ethereum futures ETFs are already available, having gone live last year.

However, the potential introduction of a spot Ethereum ETF has generated significant excitement in the crypto community and financial markets.

Gensler was also asked about the increasing political discourse surrounding cryptocurrency, particularly comments from former President Donald Trump.

Also Read: Congressman Matt Gaetz Introduces Bill To Allow Federal Tax Payments In Bitcoin

In response to whether this political momentum surprises him, Gensler reiterated his role as a securities regulator, focused solely on protecting investors and ensuring market integrity.

“I don’t speak about elections,” when questioned about the intersection of cryptocurrency and the upcoming presidential election, when asked about former President Trump's increasing support for cryptocurrencies and criticisms from figures such as Mark Cuban.

“I just really look, my role as a securities regulator, as chair of this great 5,000-person agency that oversees $120 trillion capital markets. We are here to look out for investors, look out for issuers, and, where appropriate, to be a cop on the beat,” he stated.

Republican presidential candidate Trump has been vocal in his support for cryptocurrency, promising to advocate for Bitcoin mining and to accept political donations in crypto.

At a recent event at Mar-a-Lago, Trump criticized President Joe Biden’s stance on digital assets, vowing to end what he termed Biden’s “crusade to crush crypto.”

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Posted In: CryptocurrencyNewsSector ETFsSECETFsbitcoin ETFBlockchain Technologycrypto regulationEthereum ETFGary Gensler
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