Chair Gary Gensler of the United States Securities and Exchange Commission (SEC) has hinted at the potential approval of spot Ether exchange-traded funds (ETFs) by mid-2024. The SEC recently approved 19b-4 filings from eight firms, paving the way for the launch of these ETFs on US exchanges pending S-1 registration statement approvals.
During a Senate Banking Committee hearing, Gensler mentioned that the commission expects to approve these statements for asset managers within the summer. Senator Bill Hagerty questioned the delay in approving Ether ETFs, prompting Gensler to assure that individual issuers are progressing smoothly through the registration process.
While the final approvals for spot Ether ETFs may take some time, analysts anticipate a debut on US exchanges by late June or early July. This follows the SEC’s approval of Bitcoin ETFs earlier this year, which began trading shortly after the 19b-4 filings were approved.
Overall, there is optimism surrounding the eventual availability of spot Ether ETFs, as the SEC continues to navigate the regulatory landscape for these investment products. Stay tuned for updates on this developing story.
