Gary Gensler does not know when the Ethereum ETFs will be approved, but he assures that “they are on the right track” – DiarioBitcoin

The president of the SEC points out that it is not clear when they will finally approve the ETFs Ethereum in cash, but he assured that these are in due process and that everything has happened as expected.

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• Gary Gensler presented some comments on ETFs Ethereum and its evaluation process
• He assured that everything is going well from the side of the SEC, so the process is going very well
• However, this time he avoided specifying dates or time windows for its arrival on the market.
• He took the opportunity again to point out that most cryptocurrencies are securities
• He rejected that the actions of the SEC have electoral purposes

The president of the US Securities and Exchange Commission (SEC)Gary Gensler, spoke again about the efforts being carried out on the agenda for the launch of the ETFs Ethereum in cash, and although he avoided giving estimated dates, he did assure that the process is going without any type of problem.

Gensler talks ETFs Ethereum

Gensler’s statements came into place during a summit held by Bloomberg Invest today in New York City, reviewed by The Blockwhere the opportunity was taken to ask about ETFs Ethereum and its possible release date in the US market.

In this regard, Gensler highlighted that “doesn’t know the moment” in which the verdict will be issued, but confirmed that due process “it is going well”:

“It’s really about asset managers making full disclosure so that those registration statements can take effect.“said the president of the SEC.

As for the reasons why there is still no estimated date, Gensler informed attendees that the SEC is taking the due process of evaluating S-1 forms submitted by administrators very seriously, and added:

It’s something our Corporate Finance Division handles hundreds, if not thousands, of times throughout anyone’s career. [El proceso] is running smoothly; It is really up to the asset managers to make the appropriate disclosures and accuracies.

With this last comment, Gensler took advantage of the space to express his concern with the cryptocurrency sector, reiterating that many of the assets traded in the market are securities, and that exchanges are not adhering to the regulations currently in force.

No date at the moment

Although Gensler limited himself to saying that the process is continuing and that everything is going well, there are many theories in the air about the date on which the ETFs would arrive. Ethereum to the US market.

Weeks ago, Gensler himself anticipated that these exchange-traded funds could arrive at the end of the summer, that is, by the end of August or beginning of September, as long as the process goes as expected.

However, the one who generated very good expectations about the possible date was Eric Balchunas, an analyst at Bloomberg, who specified that at least in the case of VanEck, Your fund could be approved in the next seven days. He compared the process that the company carries out with its ETF Ethereum and what it did at the time with the one based on Bitcoin, and estimates that if certain conditions are met we could see the desired funds for next week.

Finally, and against the thesis that the approval of ETFs Ethereum are an electoral issue, Gensler declined to comment and clarified that he would not issue opinions on the upcoming presidential elections.

Article by Angel Di Matteo / DailyBitcoin

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