According to Odaily, Gary Gensler, the Chairman of the U.S. Securities and Exchange Commission (SEC), has refrained from commenting on the plans for an Ethereum Exchange-Traded Fund (ETF). However, he emphasized that the SEC is committed to adhering to the legal requirements for cryptocurrency ETF applications.
Gensler's silence on the Ethereum ETF plans has sparked speculation in the crypto community. Despite this, his assurance of the SEC's commitment to uphold the law in relation to cryptocurrency ETF applications has been seen as a positive sign by many.
The SEC's stance on cryptocurrency ETFs is crucial as it can significantly impact the crypto market. The approval or rejection of such applications can influence the market's perception of the legitimacy and stability of cryptocurrencies. As such, Gensler's comments, or lack thereof, are closely watched by investors and stakeholders in the crypto industry.