Gary Gensler, chairman of the U.S SEC, spoke with Yahoo Finance’s Jennifer Schonberger.
The cryptocurrency industry is hoping that spot Ethereum ETFs will be authorized.
Based on Gary Gensler’s response to a query on the possibility of spot Ethereum ETF clearance, it seems that applicants for this product could have a lengthier wait than anticipated.
Gary Gensler, chairman of the U.S SEC, spoke with Yahoo Finance’s Jennifer Schonberger yesterday. She brought up the topic of staking and asked Gensler if he believes it lowers the likelihood of spot Ethereum ETF approval during the interview.
Instead of answering the issue head-on, he made it plain that he wasn’t going to talk about any particular filings the agency received. Whenever the reporter from Yahoo Finance attempted to bring up the topic of Ethereum ETF, he skillfully sidestepped the conversation.
Highly Anticipated Approval
The cryptocurrency industry is hoping that spot Ethereum ETFs will be authorized in the same way that Bitcoin ETFs were in January, thus Schonberger’s question is not completely without merit. In a little over two months, spot Bitcoin ETFs have outperformed numerous more conventional assets, such as gold ETFs.
Some of the spot Bitcoin exchange-traded funds (ETFs) are doing quite well on their own. Among the other Bitcoin exchange-traded fund (ETF) issuers, BlackRock and Fidelity Investments routinely rank first and second, respectively, in terms of trading volume and inflows. The amount of interest in crypto from institutional investors has been shown by these excellent achievements, which might be good news for Ethereum.
Numerous industry watchers anticipate that the regulator will provide a warmer welcome to spot Ethereum ETFs, in light of the success of Bitcoin ETFs.