Timing for US ether ETF launches depends on how fast issuers can move, SEC chair says
ether can begin trading depends largely on how quickly issuers respond to the U.S. Securities and Exchange Commission's queries, Chair Gary Gensler said on Wednesday.
The SEC last month approved applications from Nasdaq, CBOE and NYSE to list spot ether ETFs. It was a surprise win for the cryptocurrency industry which had expected the SEC to reject the filings after discouraging meetings with the regulator.
The SEC still has to approve the ETF issuers' registration statements detailing investor disclosures before they can start trading. That process usually involves a lot of back and forth between the ETF issuers and SEC officials.
«These registrants are self-motivated to be responsive to the comments they get, but it's really up to them how responsive they are,» he said. Gensler declined to say whether he thought that process would take weeks or months.
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View Details» Gensler and agency officials had not commented previously on why the SEC appeared to do a U-turn and approve the ether exchange filings.
On Wednesday, Gensler said last year's
