Gary Gensler, Chairman of the U.S. Securities and Exchange Commission (SEC), recently stated that the launch date for Ethereum exchange-traded funds (ETFs) or the Ethereum ETF will depend on the issuers, not the SEC. This statement put an end to speculation that the SEC might delay the ETF approval process.
Issuer liability
Gensler explained that issuers are responsible for responding to SEC comments and providing the information necessary to obtain ETF approval. “These registrants are self-sufficient in being responsive to the comments they receive, but it’s really up to them how quickly they respond,” he said. He stressed the importance of transparency and cooperation between issuers and the SEC to ensure a smooth and efficient approval process.
The SEC will not delay the process
Gensler also indicated that the SEC will not delay the ETF approval process. “We are not delaying the process,” he said. “We are in the process of working with issuers to obtain the information necessary to approve ETFs.” He added that working with issuers is essential to ensure that all regulatory requirements are met.
Implications for the future
The implications for the future of Ethereum ETF adoption are significant. If issuers can respond quickly to SEC comments, ETFs could be approved quickly, which could lead to an increase in Ethereum adoption and a rise in the cryptocurrency’s value. This dynamic could also attract more institutional investors to Ethereum, strengthening its market position.
