Spot Ether ETFs Launch in the US Progressing “Smoothly,” Says SEC Chair Gensler
The Securities and Exchange Commission (SEC) Chair Gary Gensler has said that the progress of launching the first spot Ether exchange-traded funds (ETFs) is “going smoothly.”
During a Bloomberg conference on June 25, Gensler refrained from providing a specific timeline for the ETFs’ launch and avoided commenting on whether they could go live before the November U.S. elections.
Gensler emphasized the importance of asset managers making full disclosure in their registration statements, which are required for the ETFs to become effective.
“What is in front of us — and it’s done at a staff level — is what’s called the registration statements, the disclosure statements,” Gensler explained.
“Again, these disclosures are really important. They’re important to investors making investment decisions.”
While the SEC approved 19b-4 filings from eight ETF bidders on May 23, the asset managers are still refining their Form S-1s, the final filings that need SEC approval before the ETFs can commence trading.
Some analysts have speculated that the SEC could greenlight the funds for trading as early as the first week of July.
The U.S. crypto industry has actively sought to make digital assets an election issue, particularly due to the increased enforcement actions taken by the SEC under Gensler’s leadership.
Presidential candidate Donald Trump pledged to end what he called President Joe Biden’s “war on crypto,” and billionaire investor Mark Cuban argued that Gensler’s actions could “literally cost Joe Biden the election.”
When asked about these comments, Gensler declined to discuss elections and instead affirmed the clarity of the existing rules governing crypto securities and securities laws.
He noted that non-compliance with these laws has
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