Ethereum ETF debut ‘will take time’

U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler said the arrival of the recently approved Ethereum Spot ETF “will take some time.” Gensler noted CNBC Wednesday morning that the agency is still working on various disclosure measures.

The approval of the ETH ETF last week came as a surprise to the digital asset market as a whole. The SEC has long resisted approving the crypto-based exchange product, despite the success of a Spot Bitcoin ETF after its approval in January. Conversely, Gensler spoke of the need for patience as the process is still ongoing.

Also read: JPMorgan Predicts “Negative” Market Response to Ethereum ETFs

SEC Chairman Says Ethereum ETF Could Still Take Time

As we approach mid-year 2024, crypto-based ETFs have dominated the financial sector. Both Bitcoin and Ethereum have received approval for the investment vehicle as the cryptocurrency market could face a surge in investor interest. However, this process may not be imminent.

Speaking to CNBC, SEC Chari Gary Gensler called for patience, saying the debut of a Spot Ethereum ETF could “take a while.” He referenced the recent approval of the product while noting that the agency was still working on the necessary disclosures from listing exchanges.

Source: CNBC

Also read: Ethereum ETF set to launch in June amid updated documents

The issue of disclosure seemed to be one of the themes of Genesler’s visit to CNBC. Speaking to Jim Cramer, he noted that “disclosure is not what you get in crypto.” Furthermore, he aimed traditional crypto exchangesnoting that they do things “the law would never allow [NYSE] or traditional scholarships to do.

However, Gensler did not directly comment on the dramatic change in the SEC’s approach to Spot Ethereum ETFs. He only discussed the presence of Ether Futures exchange-traded products on Cboe over the past three years. Yet many see changing opinions about the agency as a fundamental policy decision.

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