During a June 5 interview on CNBC, Gary Gensler, Chair of the United States Securities and Exchange Commission (SEC), implied that there may be a delay in granting final approvals for asset managers looking to offer spot Ether (ETH) exchange-traded funds (ETFs) on exchanges.
Gensler stated that the next steps in the approval process for spot Ether ETFs will “take some time,” indicating that the commission may move slowly or delay signing off on S-1 registration statements.
On May 23, the SEC approved 19b-4 filings from several firms, including VanEck, BlackRock, Fidelity, Grayscale, Franklin Templeton, ARK 21Shares, Invesco Galaxy, and Bitwise. However, final approvals for the listing and trading of these ETFs on U.S. exchanges could still take months.
While discussing the SEC’s stance on enforcement actions, Gensler also noted that cryptocurrency companies were engaging in activities that traditional exchanges are not allowed to do, indicating that the commission’s approach to these types of firms is unlikely to change under his leadership.
