on 13th June, SEC Chair Gary Gensler responded to U.S. Senator Bill Hagerty’s inquiry about the approval process for ether ETFs and indicated that the approvals are expected to take place this summer.“Individual issuers still are working through the registration process. It’s working smoothly.”
On the 23rd of May, the SEC approved 19b-4 filings from eight companies. However, for these issuers to start trading on US exchanges, they still needed their S-1 filings approved.“These registrants are self-motivated to be responsive to the comments they get, but it’s really up to them how responsive they are.”
On the other hand, Nate Geraci, President of ETF Store, expressed his frustration over the prolonged approval process and said,Despite such concerns, Gensler’s recent take suggests that the Ether ETFs are likely to be approved by September. The shift from the expected June timeline to September is likely intended to give issuers enough time to prepare for trading.
But, as of the latest update, ETH has shown signs of recovery, rising by 0.69% and was trading at at $3,517.However, since these indicators did not demonstrate a strong bullish sentiment, ETH might once again fall victim to prevailing bearish trends.Ishika is a graduate of Political Science from the University of Delhi. From writing content as a hobby to now pursuing it as a professional career, she has been living and breathing content all her life.
Source: Digital Coin News (digitalcoinnews.net)
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