SEC Chairman Gary Gensler has indicated that the S1 approval for an Ethereum ETF could be expected this summer, according to his testimony at a Senate Appropriations Committee hearing today.
“Individual issuers are still working through the registration process. That’s proceeding smoothly. I would envision sometime over the course of this summer,” Gensler stated.
While the SEC has approved 19b-4 forms for several Ethereum ETF issuers, including VanEck and BlackRock, the S1 forms must also be approved before trading can commence. This approval marks a shift in regulatory stance.
Bloomberg ETF analyst Eric Balchunas has suggested that the approval process might be expedited, given the swift approval of Bitcoin ETFs earlier this year. He has even proposed a potential timeline of July 4, 2024, for the S1 approvals.
Featured image from: cryptorank.com