approval

Potential Delay in Approval of Spot Ether ETFs by SEC

The Big Whale

— 1 min read
  • SEC Chair Gensler hints at delays for spot Ether ETF approvals on U.S. exchanges.
  • 19b-4 filings approved for major asset managers, but final ETF approvals could take months.
  • Gensler suggests slow approval process, but SEC already moving towards listing shares.
  • Spot Ether ETFs approved after Bitcoin ETFs, no commissioner vote needed.
  • Gensler criticizes crypto firms for activities traditional exchanges can't do.
  • SEC faces legal challenges, potential delays in ETF approvals.

Summary :


United States Securities and Exchange Commission (SEC) Chair Gary Gensler has suggested that there might be a delay in final approvals for asset managers offering spot Ether (ETH) exchange-traded funds (ETFs) on exchanges. Gensler stated in a recent interview that the next steps on the SEC's approval of spot Ether ETFs will "take some time," indicating a potential delay or slow progress in signing off on S-1 registration statements. While the SEC has already approved 19b-4 filings from several firms for spot Ether ETFs, final approvals that would allow the listing and trading of ETFs on U.S. exchanges could take months. Gensler also mentioned that cryptocurrency firms engage in activities that traditional exchanges are not allowed to do, suggesting that the SEC's position on enforcement actions is unlikely to change. The SEC has filed lawsuits against Ripple, Coinbase, Binance, and Kraken. However, the commission recently had to close one of its regional offices after a judge ordered the SEC to pay $1.8 million for "bad faith conduct" in court.

Sources :

- CoinTelegraph
- Decrypt
- Coindesk
- Blockworks
- CoinTelegraph
- CoinTelegraph

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