Chairman of the Securities and Exchange Commission (SEC), Gary Gensler, shared an optimistic outlook on the future of Ethereum ETFs during his recent appearance before the Senate Appropriations Committee. Gensler confidently stated that approval of the necessary S1 forms for Ethereum ETFs is anticipated by next summer as individual issuers work diligently through the registration process. This positive news follows the SEC’s approval of Forms 19b-4 for several major financial institutions such as VanEck and BlackRock, signaling a shift in the regulatory landscape towards greater institutional acceptance of cryptocurrencies.
Renowned ETF analyst Eric Balchunas echoed this optimism, suggesting that the approval process for Ethereum ETFs could move faster than expected, drawing inspiration from the efficiency demonstrated in Bitcoin ETF approvals earlier in the year. Balchunas even went as far as proposing a potential date for S1 approvals, setting his sights on July 4, 2024.
As of the time of reporting, the price of ETH was recorded at US$3,450.18, showing a 4% decrease in the past 24 hours.
Disclaimer: The opinions expressed in this article are solely for informational purposes and should not be considered as financial or investment advice. Investing in cryptocurrencies carries inherent risks of financial loss.
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