According to Gary Gensler, one should not rush to approve applications for ETH-ETFs, since it is extremely important to provide protection for companies planning to invest in these exchange-traded products in the future. According to him, the SEC will do everything to ensure that the crypto asset market is not affected by questionable initiatives.
"We are doing everything within the framework of the law, the process of reviewing applications from companies is proceeding smoothly. We are striving to achieve greater transparency for investors of these funds," Gensler said.
The head of the SEC refused to name the date when the agency will complete the review of all documents and approve applications from VanEck, ARK Invest, BlackRock and Fidelity.
He also added that the regulator is now discussing how to respond to the court's decision, which did not approve the agency's rule providing for companies to disclose data on quarterly commissions and other costs.
Earlier, Eric Balchunas, senior analyst at Bloomberg Intelligence, said that the launch of spot ETFs on the air will take place on July 2, 2024.