Gary Gensler, chairman of the Securities and Exchange Commission, has stated that the approval of United States spot Ether exchange-traded funds (ETF) will depend on the issuers’ ability to address comments from the SEC quickly.
This indicates that the SEC will not unnecessarily prolong the process, as some had feared. On May 23, the SEC approved eight 19b-4 filings for spot Ether ETFs to be listed on various US exchanges.
However, these ETFs cannot begin trading until they receive the necessary S-1 registration statement approval. According to a June 6 report from Reuters, Gensler stated that the speed at which these issuers respond to comments is up to them.
This sheds light on his comments from a day earlier on CNBC, where he had stated that the next steps would take time. Some had interpreted this to mean that the SEC would take their time in approving the S-1 Forms.
