SEC Chair Gensler Says Ethereum ETF Review 'Going Smoothly'
Speaking at the Bloomberg Invest Summit, U.S. SEC Chair Gary Gensler highlighted the smooth progress of Ethereum ETF filings. When asked about the possibility of seeing an Ethereum ETF in the coming weeks, he stated, “I don’t know the timing, but it’s going smoothly.”
He elaborated, saying, “It’s really about the asset managers making full disclosure so that those registration statements can go effective.” This means that the final decision depends on whether asset managers provide all necessary information.
Existing Ethereum Futures ETFs
Gensler noted that Ethereum futures ETFs are already available, having started last year. However, there is significant excitement in the crypto community and financial markets about the possible introduction of a spot Ethereum ETF.
Political Discussions on Cryptocurrency
Gensler was also asked about the increasing political discussions around cryptocurrency, especially comments from former President Donald Trump. When questioned about whether this political momentum surprises him, Gensler emphasized his focus on protecting investors and ensuring market integrity. He stated, “I don’t speak about elections,” when asked about the intersection of cryptocurrency and the upcoming presidential election, especially regarding Trump’s increasing support for cryptocurrencies and criticisms from figures like Mark Cuban.
Role of SEC and Cryptocurrency
“I just really look, my role as a securities regulator, as chair of this great 5,000-person agency that oversees $120 trillion capital markets. We are here to look out for investors, look out for issuers, and, where appropriate, to be a cop on the beat,” Gensler explained.
Trump’s Support for Cryptocurrency
Republican presidential candidate Trump has been vocal about his support for cryptocurrency. He has promised to advocate for Bitcoin mining and to accept political donations in crypto. At a recent event at Mar-a-Lago, Trump criticized President Joe Biden’s stance on digital assets, vowing to end what he termed as Biden’s “crusade to crush crypto.”
In summary, the review of the Ethereum ETF is proceeding well, with Gensler highlighting the importance of asset managers' disclosures. Meanwhile, the political discourse around cryptocurrency, fueled by figures like Trump, continues to gain momentum.
