SEC Chairman Gary Gensler: Ethereum Spot ETF Approval Process Runs Smoothly

Gary Gensler; Ethereum Spot ETF approval process runs smoothly (Photo; Doc. Btcpeers)

JAKARTA - Chairman of the Securities and Exchange Commission (SEC), Gary Gensler, revealed that the ETF Ethereum spot approval process went smoothly. Gensler emphasized the importance of full disclosure by asset managers so that the registration statement can be effective.

In an interview with Bloomberg on Tuesday, June 25 Gary Gensler explained about crypto regulation and approval process for the ETF ethereum spot. In May, the SEC approved the 19b-4 Form for eight ETF ethereum spots. However, before this ETF can be launched, their registration statement (S-1 submission) must also receive approval from the SEC, which has yet to be granted.

When asked about the launch schedule of ETF ether spot, Gensler explained, What is in front of us and this is done at the staff level is called a registration statement, a disclosure statement. This disclosure is very important. They are important for investors in making investment decisions. He stressed that even though they don't know the exact time, the process is running smoothly.

Quoted from Bitcoin.com News, Gensler also added that whether the ETF ethereum spot will be launched before the presidential election in November or not, is not something he can determine. I'm not trying to determine what staff are doing, but this process went well," he stressed.

According to Gensler, the main key lies in asset managers to make the right disclosure so that the registration statement can be effective. SEC's corporate finance division handles this process hundreds, if not thousands of times during their careers. This process went smoothly," Gensler said. He also emphasized that in the end, the responsibility lies with asset managers to make the right disclosures.

Gensler recently stated that he anticipated the launch of the ETF ether spot this summer. Even so, the SEC chairman has not provided an exact answer whether ETH should be classified as a securities or a commodity. However, the SEC has stopped its investigation into Ethereum 2.0.