SEC President Expects Final Approvals for Ethereum Spot ETFs This Summer
Gary Gensler, President of the US Securities and Exchange Commission (SEC), stated during a Senate budget hearing that final approvals for Ethereum Spot ETFs are expected to be completed this summer.
Approval Process for Ethereum ETFs on Track
During the hearing before a Senate Appropriations subcommittee, Gary Gensler explained that the approval process for Ethereum Spot ETFs is progressing smoothly, following the initial approval of 8 ETFs.
The final registration requirements, known as S-1 filings, are now being handled at the agency’s staff level. Once these filings are approved, the new ETFs can be listed, offering broader markets easily tradable funds that hold actual Ether, similar to Bitcoin Spot ETFs that hold BTC.
So is ETH not a Security Then?
The status of Ether as a commodity or security remains uncertain in the eyes of the SEC, despite Commodity Futures Trading Commission Chairman Rostin Behnam stating categorically that ETH is a commodity.
During the same hearing, Gary Gensler did not provide a definitive answer to whether ETH is a commodity, maintaining an uncertain position.
