Cryptocurrency investors eagerly awaited the approval of the ETH ETF. Just when they were about to give up, Gensler took the stage. The SEC Chairman likely softened his stance on crypto due to Biden’s upcoming elections. He recently gave the first approvals for the ETF, but listing dates are still unclear.
Crypto Breaking News
In recent statements, Gensler said that S-1 Form approvals for Spot Ethereum ETF applications would be given before the end of summer. Since the first approval was received, investors are not in a rush regarding the ETF launch date. However, the longer the SEC delays the S-1 Form approvals, the later the ETF launches will occur during these exciting times for crypto.
About 2 weeks ago, Gensler requested the final form drafts from issuers and has likely been providing feedback for necessary adjustments. The drafts will go back and forth between the SEC and the issuing company until they meet the SEC’s requirements. Once finalized, the SEC will approve it and allow listings on the first trading day. According to Gensler, this will happen before the end of summer. Everyone expected the process to be completed by June without further delays.
