SEC Chairman: Speed of Spot Ether ETF Listings Depends on Issuers

U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler said Wednesday that the decision on when spot ETFs tied to the cryptocurrency ethereum will begin trading depends largely on how quickly issuers respond to SEC inquiries. He said, "All of these registrants are going to be proactive in responding to comments that they receive, but how responsive they are is really up to them." Gensler declined to say whether he thought the process would take weeks or months. Gary Gensler and SEC officials have not previously commented on why the SEC made a U-turn in its attitude and approved the spot ethereum ETF application, but he said Wednesday that the lawsuit filed by Grayscale last year that forced the SEC to approve the spot bitcoin ETF in January influenced the SEC's view of ethereum.