- SEC Chairman Gary Gensler told lawmakers Thursday that the spot Ethereum ETF’s S-1 application will likely be approved in the summer.
- But the SEC chairman’s remarks did not provide much information, the ETF analyst noted.
U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler expects the recently approved spot Ethereum exchange-traded fund (ETF) to receive final trading approval in the summer.
The SEC Chairman shared the outlook during a hearing with U.S. lawmakers on Thursday, June 13.
Gensler’s comments came during a Senate Banking Committee hearing considering the U.S. government’s 2025 budget for the committee.
When asked about a spot Ethereum ETF, Gensler noted that he expects the SEC to receive final approval via S-1 “sometime this summer.”
Although it is summer
The cryptocurrency community has been aware of the upcoming listing and trading since regulators approved the 19b-4 filing in May of this year, but now Gensler’s comments have set a timeline. In this case, the industry is looking ahead to the next three months, with the most recent comments expected from the SEC Chairman in September.
Bloomberg ETF analyst James Seyffart Called The SEC Chairman didn’t really provide much information, stating that the ETH spot ETF would be launched “by the end of the summer.”
The analyst highlighted previous predictions that the SEC would probably finalize approvals in early July, saying:
“July was and is complete speculation. However, I was more confident in saying that the ETH ETF would launch at some point this summer. It was kind of a given. Gensler didn’t really give us much information in his comment that the Ethereum ETF would launch “by the end of the summer.”
Ethereum surged in May after the SEC agreed to 19b-4s, but with the broader cryptocurrency market struggling and the approval already priced in, the recent comments had little impact on Ethereum.
The cryptocurrency was trading at around $3,470, down about 10% last week.