Exciting News for Ethereum Investors as SEC Chairman Gary Gensler Announces Final Approval Date for Spot ETH ETFs!
During a recent session with the Senate Appropriations Committee, Gary Gensler, the Chairman of the SEC, expressed his optimism that S-1s for spot Ethereum ETFs will receive approval by the end of the summer.
Fox correspondent Eleanor Terrett provided insights into the discussion between SEC Chairman Gary Gensler and US Senator Bill Hagerty regarding the Ethereum ETFs. While Gensler mentioned “through this summer,” Hagerty emphasized “by the end of the summer.”
Gensler elaborated that he envisions the approvals happening “over the course of this summer,” to which Hagerty appreciated the clarification.
In addition to Gensler, CFTC Chairman Rostin Behnam also addressed the Senate Appropriations Committee, where both were asked about the classification of ETH as a commodity. While Behnam straightforwardly answered “Yes,” Gensler maintained the SEC’s ambiguous stance on the matter.
Despite the SEC’s previous approval of applications like 19b-4 for spot Ethereum ETFs in May, the final go-ahead for S-1 filings is still pending before these ETFs can enter the market. Market analysts had predicted approvals for S-1 applications in June and July, and Gensler’s recent statement aligns partially with these expectations.
As of the current moment, Ethereum is trading at $3,518.
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