SEC Chairman Gary Gensler revealed promising prospects for the future of Ethereum ETFs during his testimony at a recent Senate Appropriations Committee hearing.

With optimistic clarity, Gensler signaled that approval of S1 forms, required for the launch of Ethereum ETFs, is expected next summer. “Individual issuers are still working through the registration process. This is working perfectly. And I would imagine sometime during this summer,” Gensler said, demonstrating confidence in current progress.

This announcement comes after the SEC approved Forms 19b-4 for several financial institutions, including giants like VanEck and BlackRock. These initial approvals marked a significant transition in the SEC’s regulatory stance, paving the way for greater institutional acceptance of cryptocurrencies.

Bloomberg ETF analyst Eric Balchunas shared similar optimism, suggesting that the approval process for Ethereum ETFs could be faster than usual, inspired by the efficiency seen in Bitcoin ETF approvals earlier in the year. Balchunas even proposed a possible date for S1 approvals: “July 4, 2024.”

At the time of publication, the price of ETH was quoted at US$3,450.18 with a drop of 4% in the last 24 hours.


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.


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