According to The Block, Gary Gensler, chairman of the U.S. Securities and Exchange Commission (SEC), said at the Bloomberg Investment Summit in New York on Tuesday that the approval process for an Ethereum spot ETF is “progressing smoothly,” although the specific timing is unclear.
As previously reported by Zombit, the SEC approved 19b-4 filings for 8 Ethereum ETFs last month, but issuers still need to wait for their registration statements (known as S-1s) to be approved before they can be offered to investors on stock exchanges.
Gary Gensler stated that the key to the approval time is for asset management companies to provide full disclosure of information so that these registration statements can become effective.
At the same time, Gary Gensler also reiterated his concerns about most cryptocurrencies being securities, and stated that cryptocurrency platforms are not complying with its rules and not providing the required disclosures to the American public.
The battle for the U.S. presidential election is in full swing. Billionaire Mark Cuban previously accused SEC Chairman Gary Gensler of being responsible for Biden’s defeat. In response to this, Gary Gensler only said:
