- SEC chair Gary Gensler said the spot Ethereum ETFs will be approved in the course of the summer.
- The SEC has already greenlit a crucial batch of documents.
- Odds of the ETFs launching on July 4 have plummeted on Polymarket.
Spot Ethereum exchange-traded funds are likely to launch this summer.
Thatâs what Securities and Exchange Commission chair Gary Gensler told US senators today during a hearing on the agencyâs funding request for 2025.
âI would envision sometime over the course of this summer,â Gensler said.
The SEC has already greenlit a batch of documents necessary for the launch of Ethereum ETFs, called 19b-4s, but still needs to get a second set of filings, called S-1s, finalised with prospective ETF issuers.
Itâs only once both sets of documents are completed that the SEC can officially approve the ETFs â and subsequently launch the products.
âIndividual issuers still are working through the registration process,â Gensler said. âThatâs working smoothly.â
Market expectations
On betting platform Polymarket, odds that the ETFs will begin trading on July 4 have shot down 15% in the wake of Genslerâs comments.
Bettors now believe thereâs a 29% chance the products will launch on Independence Day.
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And two weeks ago Bloomberg Intelligence ETF analyst Eric Balchunas said that there was a âlegit possibilityâ the ETFs could launch by the end of June, though he ascribed more chances to July 4.
This is a developing story.