SEC Chair Gary Gensler suggests Ether ETFs could soon be approved

During a Bloomberg conference on June 25, SEC Chair Gary Gensler provided updates on the progress of launching the first spot Ether exchange-traded funds (ETFs) in the United States. While Gensler did not specify a timeline for approval, analysts are optimistic that it could happen as early as next week. 

Gensler emphasized the importance of full disclosure by asset managers in the registration statements, highlighting that these are crucial for investor decision-making. The SEC approved initial filings from eight ETF bidders on May 23, but the final Form S-1 filings are still under review.

Despite speculation that the funds could launch before the November U.S. elections, Gensler refrained from commenting on any specific timeline. He reiterated the need for compliance with securities laws, noting that many in the crypto industry have failed to provide proper disclosure to investors. He acknowledged the challenges facing the sector, with several prominent figures either in legal trouble or under investigation.

Meanwhile, the U.S. crypto industry continues to push for regulatory clarity, with significant lobbying efforts to make digital assets a key election issue. Critics, including Ripple CEO Brad Garlinghouse, have accused Gensler of failing to effectively regulate the space, particularly pointing to the collapse of FTX as a major oversight.

As the debate continues, the approval of Ether ETFs remains a closely watched development in the evolving landscape of U.S. crypto regulation.