SEC Chairman Gary Gensler discussed the approval process for Ethereum (ETH) ETFs during an appearance on CNBC with Jim Cramer. Gensler indicated that the next steps in the approval process 'will take some time,' potentially signaling a slow-walk of the S-1 approval process. He emphasized that CME-traded ETH futures were a key factor in the decision-making process, rather than political influences, as noted by SEC Commissioner Hester Peirce. Gensler also commented on the broader crypto market, stating that crypto exchanges are engaging in practices that traditional exchanges like the NYSE would not be allowed to do. Additionally, Gensler dodged questions about other token ETFs during the digital assets subcommittee hearing, instead pointing to crypto bankruptcies as a reason for the SEC's cautious approach.
BREAKING: @jimcramer ASKS @GaryGensler WHETHER THERE SHOULD BE A $BONK (@bonk_inu) ETF https://t.co/NMLJTFVCmG
SEC Chair Gary Gensler on @CNBC Squawk Box this morning. Note the pivot from “all tokens are securities” to “tokens lack proper disclosure”. Cramer asked about other token ETFs, Gensler dodges as usual into crypto bankruptcies as an answer for why crypto bad, SEC good. https://t.co/FmSZkwuTYW
🚨JUST IN: "CRYPTO EXCHANGES ARE DOING THINGS THE LAW WOULD NEVER ALLOW NYSE OR TRADITIONAL EXCHANGES TO DO" ~ SEC CHAIR, GARY GENSLER
🚨NEW: @SECGov Chairman @GaryGensler says the next step in the $ETH ETF approvals “will take some time,” possibly indicating a potential slow-walk of the S-1 approval process. https://t.co/iwfN9vvmt8
Listen to @jimcramer tell @GaryGensler say like SEC v @ripple, o wait you lost that one thanks.#XRPArmy #XRP #Crypto #FireGaryGensler https://t.co/gyyI4T3yjv
.@SECGov Chair Gary Gensler appearing on CNBC (during HFS digital assets subcommittee hearing) says next step on ETH ETF approvals “will take some time” https://t.co/rGSFqZbTER
Gary Gensler of the SEC is talking with Jim Cramer now on CNBC.
Submitting this as yet another piece of evidence on why spot eth ETF approval wasn’t political… Here’s SEC Commish Hester Peirce to WSJ (important b/c SEC didn’t comment after 19b-4 approval). CME-traded eth futures = key, not some 11th hr call from Biden. via @Vlajournaliste https://t.co/2xwND7lLfC