Ethereum
SEC boss Gary Gensler breaks silence on Ethereum ETFs
Gamza Khanzadaev
SEC Chairman Gary Gensler drops cryptic remarks on Ethereum ETF approval process, leaving investors nervous
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During a recent appearance on CNBC, SEC Chairman Gary Gensler provided an overview of the expected timeline for the review of the Ethereum ETF S-1 spot reports. Éléonore Terretta Fox Business reporter, relayed this as an indication that the review process is expected to be lengthy, which could lead to delays in the approval process for Ethereum ETFs.
As a reminder, last Friday marked an important deadline in terms of spot Ethereum ETF issuers, including industry giants BlackRock and VanEck, have submitted their initial draft Forms S-1 to the SEC. The regulator will now begin the review process, providing feedback and requesting changes. Industry insiders expect at least two rounds of draft filings before a final decision is made.
Unlike the relatively simple path of Bitcoin ETFs approvals, the altcoin landscape appears murkier, according to market participants. Although unanimous approval would mark a pivotal moment for the market, recent events have created uncertainty. For example, Hashdex’s withdrawal of its application for undisclosed reasons caused market participants to question the overall trajectory of Ethereum AND F.
Attention is now shifting to the SEC’s stance on the cryptocurrency market and ongoing developments in Bitcoin ETFs, as the liquidity of traditional financial markets is hundreds of times greater than that of cryptocurrencies. On the one hand, this does not mean that investors will want to increase their risk by switching to altcoins, and vice versa: they may transfer part of the funds from Bitcoin ETFs in search of additional profits.
About the Author
Gamza Khanzadaev
Financial analyst, trader and crypto enthusiast.
Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master’s program in banking and asset management.
He wants to participate in covering economic and financial technology topics, as well as making more people aware of cryptocurrencies and blockchain.