Chairman Gensler of the SEC Anticipates Approval of Ethereum Spot ETF S1 by the End of Summer

Potential creators of an Ethereum ETF are eagerly awaiting feedback from the SEC on their S-1 filings, which were submitted on May 31. However, their anticipation may soon come to an end. Rumors are circulating that SEC Chair Gary Gensler has hinted at the possible approval of the S-1 filings for an Ethereum ETF by the end of summer, with a likely timeframe between June and August.
Gensler Drops Hint on S-1 Approval
In a recent development regarding an Ethereum ETF, SEC Chair Gary Gensler hinted at a potential timeline for approval. According to reports from Fox, Gensler mentioned to Senator Bill Hagerty that he expects the approval process for the S-1 filing of the ETF to be completed by the conclusion of this summer.
The SEC’s recent approval of 19b-4 forms for various Ethereum ETF creators, including VanEck and BlackRock, signifies a growing trend in crypto adoption. However, the approval for S-1 forms, which require detailed ETF information, is still pending.
Previously, creators were anticipating feedback from the SEC by June 7, based on information from a source familiar with agency discussions. However, feedback is still pending, with hopes now pinned on the end of summer. Gary Gensler mentioned in an interview on CNBC that approvals for the S-1 forms would take some time. Nonetheless, it is anticipated that final approval could come between June and August.
The S-1 forms mark the second step in the process to enable trading of Ethereum ETFs. The first step involved the approval of 19b-4 forms on May 23rd.
Some key details from the preliminary filings include BlackRock launching its ETF with a $10 million initial investment, while Franklin Templeton plans to start trading with a 0.19% fee.
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Cryptocurrency
Ethereum