SEC Expected to Approve Ethereum ETFs This Summer, Chair Gensler Tells Senate Subcommittee

HomeMarket NewsEthereum

SEC Expected to Approve Ethereum ETFs This Summer, Chair Gensler Tells Senate Subcommittee

In a recent development, the US Securities and Exchange Commission Chair, Gary Gensler, appeared before the Senate Appropriations Subcommittee on Financial Services on Thursday and cleared the air regarding the agency’s timeline to approve spot Ethereum ETFs for Senator Bill Hagerty, a Republican from Tennessee. Gensler mentioned that the SEC has what it believes will approve the S-1 forms for such ETFs next summer.

Ethereum ETFs Set to Launch Following SEC Greenlight

The SEC has started making efforts toward the approval of Ethereum ETFs, especially in the recent past. It added that the agency suddenly approved listing and trading eight Ether ETFs through the rule change 19b-4 forms. The SEC asked all prospective issuers to file new S-1 forms at the end of May. ETF analyst restricted his comments to his noted progress, which includes the following: “I will be interested in seeing changes in the next batch of amended S-1s, and there can’t be *that* much work left to do.”

Read Also: Ripple Launches RLUSD on Ethereum and XRPL Amid Regulatory Watch

Several analysts in the industry speculated on Ethereum ETFs, which is why Popular Bloomberg analyst James Seyffart said that Ethereum ETFs would go live this summer. “The month of ‘July’ was to be the month of pure speculation, but I had much more conviction in stating that ETH ETFs will launch sometime during summer, which was kind of like a given,” Seyffart remarked in a post on X.

Advertisement

thegreensafe large horizontal banner

There is also positive action in the Bitcoin ETF market, which is expected to enjoy a similar boost from Ethereum ETFs. With this background, Bitcoin ETFs recently experienced $100 million in inflows, with Fidelity’s wise origin Bitcoin fund (FBTC) dominating the market. This increase in attention emphasizes the necessity for institutional and new retail investors to invest in cryptocurrency vehicles.

This indicates that the SEC’s approval of Ethereum ETFs will be a significant milestone in cryptocurrency investment. The prospects for Ethereum ETFs appear particularly promising, given recent events such as regulation change approval and the anticipated summer deployment. Gaining insights, the financial community awaits further developments and the SEC’s expected steps. Still, Bitcoin ETFs are seeing large inflows, indicating that there is still a considerable interest in crypto-assets. The future developments we anticipate in the Ethereum ETF market will transform cryptocurrency investment in the following months.

Read Also: Coinbase Sees Over $1 Billion Ethereum Outflow Amid Market Speculation

Special Offer (SPONSORED)

Binance Free $200 (Exclusive): Use this link to register and receive $200 free trading fee credit (terms).

"3Commas Trading Bot" Special Offer: Use this link to Sign up with 3Commas and get 10% off your first monthly subscription.

Maxwell is a crypto-economic analyst and Blockchain enthusiast, passionate about helping people understand the potential of decentralized technology. I write extensively on topics such as blockchain, cryptocurrency, tokens, and more for many publications. My goal is to spread knowledge about this revolutionary technology and its implications for economic freedom and social good.