Gary Gensler's Insights

Gary Gensler recently discussed the SEC's stance on the federal court's rejection of new regulations and the delay surrounding ETH ETFs. The federal court invalidated a regulation that aimed to enhance transparency by compelling hedge funds and private equity firms to disclose more financial information. The court ruling, issued by a panel from the 5th US Circuit Court of Appeals, deemed the SEC's regulation as exceeding its scope.

Gensler's Standpoint

In response to the court's decision, SEC Chair Gary Gensler addressed the issue during an interview at the Bloomberg Invest event in New York. Gensler stressed the significance of respecting legal boundaries and court interpretations, stating that the SEC operates within the constraints of the law and respects judicial interpretations. He hinted at potential strategic changes post the court's ruling and underscored the SEC's primary objective of ensuring transparency for investors in hedge funds and private equity entities.

Potential Arrival of Ether-based ETF Applications

Gensler also updated on the SEC's evaluation of applications for US ETFs directly investing in Ether. While indicating a smooth review process, Gensler refrained from specifying a timeline for the final decision. Several prominent companies such as VanEck, ARK Investment Management, BlackRock Inc., and Fidelity Investments are anticipating approval for their Ether-based ETFs.

The ongoing review of Ether-related ETF applications seems to progress positively, hinting at potential approvals in the near future. Following this development, Ethereum's price surged to $3,412 after a 3.26% increase over the previous 24 hours.