Ethereum ETF trading starts "sometime this summer"

The wait for spot ETFs for Ethereum may soon be over. SEC Chairman Gary Gensler hinted that trading could begin soon. In a Senate Banking Committee hearing, he said the outstanding S-1 applications would be approved "sometime this summer."

The SEC already approved the so-called 19b-4 applications of eight companies on May 23. Thus, the Ethereum Spot ETFs have been formally approved. To be admitted for trading on U.S. exchanges, the authority must still approve the S-1 applications.

"The Ethereum exchange-traded products submitted to us by the exchanges - I think there were eight or nine - have all been approved together," Gensler said. "Individual issuers are still working through the registration process, which is going smoothly, and I would imagine that will happen sometime this summer."