Gary Gensler, the Chair of the SEC, has recently mentioned the challenges that DeFi poses to AML regulations. The SEC approved the spot 19b-4 files on May 23, and during the summer, Gensler is expecting the approval of Ethereum spot ETF S-1s. This news has generated a lot of excitement within the community.
Gensler discussed various topics related to the SEC’s operations during a testimony before the Senate Appropriations Committee. He specifically mentioned the timeline for the Ethereum ETF with Senator Hagerty. Ever since the approval of the spot 19b-4 files in May, there has been speculation on social media about the potential listing date of the Ethereum ETF.
Gensler emphasized that the final decision on the listing timeline would be made by the issuers, not the SEC. He noted that the speed of their response to feedback would play a crucial role in the process. Experts like Eric Balchunas predict that approvals might take until the first week of July.
The approval of Ethereum ETFs has attracted institutional investors to the market, leading to a significant increase in the price of ETH. Despite a recent 2.12% decrease in the last 24 hours, ETH is currently trading at $3478 according to data from CMC. Bullish investors are expecting a rally as the market eagerly anticipates the upcoming listing.
