Spot Ethereum ETF Decision Is Now Unconfirmed By SEC Gary Gensler

Key Points:

• SEC Chairman Gary Gensler declined to provide details on the spot Ethereum ETF decision but advised observers to “stay tuned.”
• The SEC requested exchanges to refile applications for spot Ether ETFs with standardized language and will decide on at least one application by the end of Thursday.

According to CoinDesk, U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler has remained tight-lipped about the agency’s spot Ethereum ETF decision. When questioned on Thursday, Gensler encouraged observers to “stay tuned,” but provided no specifics on the SEC’s stance.

Gensler Withholds Details on Ethereum ETF Decision, Urges Patience

Gensler addressed these comments during an appearance at an Investment Company Institute event in Washington. He highlighted that the SEC’s approach to crypto ETFs had shifted following a court decision earlier this year, which rejected the SEC’s initial approach to spot Bitcoin (BTC) ETFs. However, he did not disclose any further details about the Ethereum ETF filings.

Despite the SEC’s spot Ethereum ETF decision ongoing review, the agency recently requested exchanges supporting spot Ether ETF applications to refile their 19b-4 forms with standardized language. These forms were resubmitted by Tuesday and subsequently published online. Companies like Fidelity and Grayscale have also updated their S-1 forms in response to the SEC’s guidance. The SEC is expected to make a final decision on at least one spot Ether ETF application by the end of Thursday.

SEC Chair Criticizes House-Passed Crypto Bill

Gensler emphasized the SEC’s commitment to acting within the legal framework and how courts interpret the law. “We do it within the law and how the courts interpret the law, and that’s what I’m deeply committed to,” he said.

In addition to the spot Ethereum ETF decision, Gensler commented on a recent crypto bill that passed the House of Representatives. He reiterated the SEC’s opposition, citing concerns over the lack of necessary disclosures by token operators that would benefit investors. “We will continue to engage,” Gensler assured, indicating the SEC’s ongoing efforts to ensure compliance with legal standards.