SEC Chair Gensler Discusses ETH ETF Approval Process and Crypto Exchanges on CNBC with Jim Cramer

SEC Chairman Gary Gensler discussed the approval process for Ethereum (ETH) ETFs during an appearance on CNBC with Jim Cramer. Gensler indicated that the next steps in the approval process 'will take some time,' potentially signaling a slow-walk of the S-1 approval process. He emphasized that CME-traded ETH futures were a key factor in the decision-making process, rather than political influences, as noted by SEC Commissioner Hester Peirce. Gensler also commented on the broader crypto market, stating that crypto exchanges are engaging in practices that traditional exchanges like the NYSE would not be allowed to do. Additionally, Gensler dodged questions about other token ETFs during the digital assets subcommittee hearing, instead pointing to crypto bankruptcies as a reason for the SEC's cautious approach.