Understanding Gary Gensler’s Take on SEC’s Response to Recent Events
Gary Gensler, in his most recent interview with Bloomberg, provided insights into the SEC’s stance on the Federal court’s decision regarding new regulations and the ongoing debate surrounding the delay in Ether-based ETFs. Here’s a breakdown of what transpired:
SEC Chair’s Reaction
– During the Bloomberg Invest event in New York, SEC Chair Gary Gensler reacted to the court’s ruling on the new regulation.
– He emphasized the significance of adhering to legal boundaries and court interpretations.
– Gensler expressed the agency’s commitment to operate within the confines of the law and respect court decisions.
– The SEC’s objective is to guarantee transparency for investors in hedge funds and private equity firms.
Are Ether-based ETF Applications on the Horizon?
– Gensler offered an update on the SEC’s evaluation of applications for US ETFs directly investing in Ether.
– The review process is progressing smoothly, with no specific timeline provided for a final decision.
– Companies like VanEck, ARK Investment Management, BlackRock Inc., and Fidelity Investments are waiting for approval for their Ether-based ETFs.
– The assessment of Ether-based ETF applications is ongoing, indicating a potential approval in the near future.
– Following this news, Ethereum’s price surged to $3,412 after a 3.26% increase in the last 24 hours.
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