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 the Ethereum spot ETF is “progressing well,” though the specific timing is unclear.
Zombit previously reported that the SEC had approved 8 Ethereum ETFs’ 19b-4 filings last month, but issuers still need to wait for the registration statement (referred to as S-1s filings) to be approved before they can be offered to investors on stock exchanges.
Gensler stated that the key to the approval time is for asset management companies to fully disclose information so that these registration statements can become effective.
At the same time, Gensler reiterated his concerns about most cryptocurrencies being securities on Tuesday and stated that cryptocurrency platforms are not complying with their rules and are not providing the required disclosures to the U.S. public.
The battle for the U.S. presidential election is in full swing. Billionaire Mark Cuban previously accused SEC chairman Gary Gensler of being the war criminal responsible for Biden’s defeat. In response to this, Gary Gensler only said: