Following the approval of 19b-4 forms from various Ethereum Spot ETFs issuers, SEC Chair Gary Gensler hinted these ETFs to be approved over the summer for trading . Once the SEC approves Ethereum Spot ETFs, they will become the second crypto spot ETFs available on Wall Street, after Bitcoin Spot ETFs. This comes after earlier speculations about the timeline for S-1 to begin trading. In addition to the anticipated Ethereum Spot ETFs, Gensler also discussed the challenges that decentralized finance (DeFi) poses to anti-money laundering (AML) laws.

According to Eleanor Terrett, Fox reporter, during a presentation at the Senate Appropriations Committee hearing, SEC chair Gensler informed Senator Bill Hagerty about the timeline for S-1 form approval. SEC Gensler announced that the Ethereum spot ETF S-1 would likely be approved by the end of the summer. Senator Hagerty commented on SEC’s the timeline for S-1 approval:
“If you’re indicating to me that those applications will be approved by the end of the summer, I appreciate that.”

Since the approval of spot 19b-4 filings on May 23, there has been much speculation about when the Ethereum Spot ETFs would be listed. Gensler noted that the listing timeline ultimately depends on the issuers and not the SEC, emphasizing that it depends on how responsive they are to the comments they receive.

Previously, Gensler stated that approvals might take some time, while analysts like Eric Balchunas projected the first week of July. Ethereum Spot ETFs continue to gain attention in the industry, drawing interest from institutional investors. Following the approval of 19b-4 filings, Ethereum’s price surged 22%, trading above $3,700. Despite a recent price correction, the market remains optimistic, with bulls expecting a rally upon the ETF’s listing.

At the hearing, Gary Gensler also commented on the challenges that decentralized finance (DeFi) poses to anti-money laundering (AML) laws due to the technology’s permissionless nature. Global regulators have raised concerns about the potential risks of illicit finance associated with DeFi.

Senator Hagerty advised the SEC to focus on providing regulatory clarity, with Gensler adding that breaking the law or disliking the rules is different from a lack of clear regulations.

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