SEC's Gensler sees Ethereum ETF S1 approval this summer, trading to follow

SEC Chairman Gary Gensler has indicated that the approval of the S1 for an Ethereum ETF could be expected in the coming summer, today during his testimony at a Senate Appropriations Committee hearing.

“Individual issuers still are working through the registration process. That’s working smoothly. And I would envision sometime over the course of this summer,” said Gensler.

The SEC has approved 19b-4 forms for multiple Ethereum ETF issuers, including VanEck and BlackRock, signaling a change in regulatory stance. However, the SEC must approve the S1 forms before the ETFs can officially debut and begin trading.

Bloomberg ETF analyst Eric Balchunas has suggested that the approval process could be expedited due to the swift approval of Bitcoin ETFs earlier this year. He has also proposed a potential timeline of July 4, 2024, for the S1 approvals.