SEC Chair Gary Gensler Approval for Ethereum ETF Next Stage Still Requires Some Time

Gary Gensler, Chairman of the U.S. Securities and Exchange Commission (SEC), made a series of comments related to the cryptocurrency market today on CNBC. Regarding the recently approved Ethereum spot ETFs, Gary Gensler stated that the next step in approval (the S-1 filing) will take some time. Fox reporter Eleanor Terrett suggested that this may imply a slow approval process for the S-1, meaning that the Ethereum spot ETFs will take longer to be listed for trading. However, this could also be seen as positive news, indicating that the SEC is still moving forward with the S-1 filings rather than outright rejecting them.

In addition, Alexander Grieve, Public Policy Lead at venture capital firm Paradigm, pointed out that Gary Gensler revised his previous wording during the interview, shifting from “all tokens are securities” to “tokens lack adequate disclosure.” This change seems to indicate a softening of Gary Gensler’s tough stance on cryptocurrencies.

When discussing the cryptocurrency market, Gary Gensler also mentioned that traditional financial securities exchanges are subject to regulation and do not act as counterparties to investors, while cryptocurrency exchanges are doing things that are never allowed for the New York Stock Exchange or traditional exchanges under the law.