The chairman of the US Securities and Exchange Commission (SEC), Gary Gensler, continues without giving any clues about a possible approval or denial of a spot Ethereum exchange-traded fund (ETF). In a recent interview with Yahoo Finance, the Agency’s commander dodged questions about the SEC’s position on Ethereum ETFs.
The SEC chairman was asked about the nearly 10 companies that have submitted applications for a spot Ethereum ETF, in addition to being asked whether he considered a summer court ruling involving asset manager Grayscale to be “precedent-setting.”
“I don’t want to jeopardize any orders, and as you said, there are 10 orders before us,” Gensler said. “So news alert, I’m not going to prejudge this. But to your question, we looked at the facts and circumstances and what was before us.”
On January 10, the SEC approved 11 Bitcoin ETFs and since then, the cryptocurrency community began speculating that the regulator would soon approve Ethereum ETFs as well, however, the last few months have been marked by the SEC’s suspicions regarding the product, as well as postponing decisions on orders.
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One of the main cryptocurrency exchanges, Coinbase, and asset manager Grayscale met with the US Securities and Exchange Commission (SEC) recently to discuss the application for its spot Ethereum ETF.
In a new round of negotiations with regulators this week, the companies continued to advance their plans to launch an Ethereum spot exchange-traded fund (ETF). A Coinbase presentation was published on the Agency’s website, which was presented at the meeting.
Coinbase and Grayscale have attempted to assuage SEC concerns regarding the security of a spot Ethereum ETF. Such a new product would expose investors to the price movements of Ethereum at market value.
Gary Gensler Discusses the Status of Ethereum: Will It Be Considered a Security by the SEC?
In the cryptocurrency scene in the United States, a persistent question has captured the attention of investors and enthusiasts: is Ethereum considered a security or security by the US Securities and Exchange Commission (SEC)? SEC Chairman Gary Gensler recently addressed this question, but chose to remain evasive.
During an interview on Bloomberg TV, Gensler was asked to clarify whether the SEC sees Ethereum, one of the market’s leading cryptocurrencies, as a security. His response was to postpone any verdict on the matter. Regarding these crypto tokens, it depends on the facts and circumstances whether the investing public is expecting profits based on the efforts of third parties,” he explained, reiterating that the SEC would not comment on specific cases.
Disclaimer:
The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing in or trading cryptocurrencies carries a risk of financial loss.
Source: https://portalcripto.com.br/etf-ethereum-gary-gensler-se-esquiva-de-questionamentos-sobre-posicao-da-sec/
