Final approval of exchange-traded funds linked to Ether, the world’s second-most popular digital asset, could come during the summer, Securities and Exchange Commission Chair Gary Gensler told lawmakers.
“Individual issuers are still working through the registration process that’s working smoothly,” Gensler said during a Thursday hearing before a Senate Appropriations subcommittee.
Gensler’s remarks are yet another indication that the much-awaited launch of Ether ETFs could be getting closer. The SEC approved an initial round of applications last month from several exchanges to trade the products.
Ultimate approval of the handful of issuer registration statements depends on the quality of disclosures to investors. The process is being handled at the staff level, he said. The agency cleared the launch of spot Bitcoin ETFs in January.
Gensler was responding to questions from Senator Bill Hagerty, a Tennessee Republican and ranking member of the Senate Appropriations Financial Services and General Government Subcommittee. “Ether needs to be approved as well, completely,” Hagerty said of the ETF applications.
Fund managers at companies including VanEck Associates, ARK Investment Management, BlackRock Inc. and Fidelity Investments would still need the SEC’s assent to make the new asset class a reality.
Jim Cahn, of Wealth Enhancement Group, lifts the lid on his firm's partnership model, his views on RIA M&A, and the widely slept-on reason why advisors are merging into larger organizations.
The fintech firm is cementing its status in the workplace savings space with its latest ESA offering, which employers can integrate into their existing benefits package.
Wealth managers offer unique ideas for couples to grow closer emotionally and financially.
Survey findings suggest increased sense of financial security and more optimistic 2025 outlook, while highlighting employers' role in ensuring retirement readiness.
Falling prices for some securities within the $4 trillion state and local government debt market spotlight how the push to shrink spending is sending shockwaves across the US.
Blue Vault Alts Summit highlights the role of liquidity-focused funds in reshaping advisor strategies
From 'no clients' to reshaping wealth management, Farther blends tech and trust to deliver family-office experience at scale.