According to The Block, Gary Gensler, chairman of the U.S. Securities and Exchange Commission (SEC), said at the Bloomberg Investment Summit in New York on Tuesday that the approval process for the Ethereum spot ETF is “progressing well,” although the specific timing is unclear.
Zombit previously reported that the SEC had approved 8 Ethereum ETF 19b-4 filings last month, but issuers still need to wait for their registration statements (known as S-1 filings) to be approved before they can launch them to investors on stock exchanges.
Gary Gensler stated that the key to the approval time is for asset management companies to fully disclose information so that these registration statements can become effective.
At the same time, Gary Gensler also reiterated on Tuesday his concerns that most cryptocurrencies are securities and stated that cryptocurrency platforms are not complying with their rules and are not providing the appropriate disclosures required by law to the U.S. public.
The battle for the U.S. presidential election is in full swing. Billionaire Mark Cuban previously accused SEC Chairman Gary Gensler of being the culprit for Biden’s defeat. In response to this, Gary Gensler only replied:
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