According to Gary Gensler, there should be no rush to approve ETH-ETF applications, as it is extremely important to provide protection for companies planning to invest in these exchange-traded products in the future. According to him, the SEC will do everything to ensure that the crypto-asset market does not suffer from dubious initiatives.
“We are doing everything within the law, the process of considering applications from companies is going smoothly. We are committed to achieving greater transparency for investors in these funds,” Gensler said.
The head of the SEC refused to name the date when the agency will complete its review of all documents and approve the applications of VanEck, ARK Invest, BlackRock and Fidelity.
He also added that the regulator is now discussing how to respond to a court decision that did not approve the agency’s rule requiring companies to disclose data on quarterly commissions and other costs.
Earlier, Bloomberg Intelligence senior analyst Eric Balchunas said that the launch of spot ETFs for ether will take place on July 2, 2024.
Source: Bits
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