The process for launching a spot Ethereum exchange-traded fund is “progressing smoothly,” U.S. Securities and Exchange Commission Chairman Gary Gensler said on Tuesday.
“I don’t know the timing, but we’re on track,” Gensler said at the Bloomberg Invest Summit in New York.
SEC Approved Last month, 19b-4 forms were filed for eight Ethereum ETFs. Companies competing for that product still need a registration statement called an S-1 (or S-1). S-3, for grayscale) seeking to convert Ethereum Trust to an ETF will become effective before trading begins.
Enterprise contaminated It amended its registration statement last week to disclose additional details about its seed investments and fees, pending final approval from the SEC to begin trading.
“It is important for asset managers to disclose full information so that the registration statement can be effective,” Gensler said.
“This is something our corporate finance department handles hundreds, if not thousands, of times over someone else’s career,” Gensler added. “It’s working smoothly. It’s up to the asset managers to make appropriate disclosures.”
Bloomberg ETF analyst Eric Balchunas said: said before He expects a spot Ethereum ETF to be launched by next week.
Gensler also reiterated his concerns Tuesday that most cryptocurrencies are securities and said cryptocurrency platforms are not compliant with those rules.
“The American public is not getting the proper disclosures that are required by law, but they are getting the information they need,” Gensler said.
election season
Cryptocurrencies have become part of the election scene, with Republican presidential candidate Donald Trump increasing his support for the cryptocurrency over the past few months ahead of the November election. that said Attending an event at Mar-a-Lago earlier this month, he defended Bitcoin mining at the White House, saying miners contribute to energy grid stability. He said he would accept it too. political donations He said he would do so in the form of cryptocurrency. Stop “Joe Biden’s campaign to crush cryptocurrencies.”
Meanwhile, President Joe Biden’s re-election campaign is reportedly asking members of the cryptocurrency industry for guidance on digital asset policy. the block. This marks a significant shift from the Biden administration’s less friendly stance on cryptocurrencies.
Gensler was asked to react to comments made by billionaire Mark Cuban on Tuesday. criticism If President Biden loses the election, Gensler himself will be held responsible.
“I don’t talk about elections,” Gensler said.
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