"For real? Investors sometimes don't really believe Gensler's words."
Gary Gensler, Chairman of the Securities and Exchange Commission (SEC) expects the spot Ethereum (ETH) ETF S-1 to be approved during the summer just after many speculated about the time frame for it to start trading.
While at the Senate Appropriations Committee Hearing, Gensler said that the SEC has addressed various issues related to the agency's role that has been increasingly questioned in recent times.
Following many asking about when the ETH ETF will list since the approval of the spot 19b-4 filing on May 23, 2024, Gensler stressed the timing of the listing ultimately depends on the issuer and not the SEC.
Previously, Gensler stating that the approval may take some time has led analysts like Eric Balchunas to project it to happen in the first week of July 2024 and this has successfully attracted the attention of institutional investors to the crypto market.
Even looking at the recent price correction, ETH futures do have the potential to see a significant rally soon after the approval of the 19b-4 filing takes place.
Returning to the hearing earlier, Gensler commented on the problems of decentralized finance caused by anti-money laundering (AML) laws by mentioning the possible risks of illegal finance.
United States (US) Senator Bill Hagerty advised the SEC to focus on regulatory clarity while Gensler said breaking the law or not liking the same thing is different from lack of regulatory clarity.