In the upcoming summer months, SEC Chair Gary Gensler is optimistic about the approval of Ethereum spot ETF S-1s, following speculation on the launch window. Along with this exciting development, Gensler has also discussed the challenges that decentralized finance (DeFi) poses to anti-money laundering (AML) regulations.
The community was stirred by Gary Gensler’s announcement regarding the expected authorization of the spot ETH ETF S-1 this summer. During a testimony before the Senate Appropriations Committee, the SEC addressed various matters related to its operations. Gensler engaged with Senator Hagerty on the timeline during discussions with legislators.
Since the approval of the spot 19b-4 files on May 23, there has been much speculation on social media platforms regarding the potential listing date for the Ethereum ETF. Gensler emphasized that issuers, not the SEC, will have the final say on the listing timeline. He highlighted the importance of issuers responding promptly to feedback.
Gary Gensler noted that approvals may take time, with experts like Eric Balchunas suggesting it could be until the first week of July. Ethereum exchange-traded funds (ETFs) are gaining interest from institutional investors, leading to a surge in the price of Ethereum following the clearance of 19b-4 registrations. As of now, ETH is trading at $3478, down 2.12% in the last 24 hours according to data from CMC. Despite this dip, bullish investors are anticipating a rally in anticipation of the upcoming listing.
In other crypto news today, Fhenix has partnered with Privasea to advance secure AI with FHE, marking a significant development in the industry.