The U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler revealed in an interview today that the approval of an Ethereum spot ETF is “progressing smoothly”. Bloomberg analysts had previously estimated that it could be officially approved as early as July 2nd next week.
In regards to the highly anticipated approval process of the Ethereum spot ETF, SEC Chairman Gary Gensler, who was interviewed by Bloomberg today, stated that everything is going smoothly. Earlier this month, Gensler mentioned that he expected the SEC to approve the final key document for the Ethereum spot ETF – the S-1 registration application – “at some point this summer”. However, Gensler, who is known for his tough stance, reiterated his concerns about most cryptocurrencies being securities, and stated that cryptocurrency platforms are not complying with SEC rules.
Bloomberg ETF analyst Eric Balchunas, who accurately predicted the release time of Bitcoin futures/spot ETF, anticipated in mid-month that all 8 Ethereum spot ETF applicants had submitted updated S-1 documents. He optimistically expected the SEC to formally approve these ETFs next week and advanced their predicted listing date for the Ethereum spot ETF to “July 2nd”.
In the market, the price of ETH rebounded after hitting bottom yesterday, currently at $3,405, with a 0.89% increase in the last 24 hours, slightly weaker than Bitcoin.
It is also worth mentioning that with cryptocurrencies becoming an important issue in the November U.S. presidential election, Trump and Biden have been actively courting Web3 young voters. Gensler, who is considered the number one enemy of the crypto industry and community, was asked about the impact of cryptocurrencies on the election today, and was even asked for his opinion on Mark Cuban, owner of the NBA’s Dallas Mavericks, saying that Biden will lose the election.
On sensitive issues related to the election, Gensler refused to comment, stating “I don’t talk about elections.” He then emphasized his role as the SEC Chairman, reiterating that regardless of the political climate, his top priority is to maintain fair, orderly, and efficient markets.