Gensler Says Spot ETH ETFs May Launch This Summer, Behnam States Ether A Commodity

U.S. SEC Chair Gary Gensler refused to directly answer Sen. Bill Hagerty's question of Ether being a commodity during the Senate Committee on Appropriations hearing Thursday. (Credit: U.S. Senate Website/Screenshot)

KEY POINTS

• Sen. Hagerty pressed Gensler on why the process of approving crypto ETFs was taking so long
• The senator said spot Ether ETFs should be 'completely' approved after Gensler said 19b-4 filings were approved
• CFTC Chair Rostin Behnam directly answered 'yes' when asked if Ethereum is a commodity

The U.S. Securities and Exchange Commission (SEC) on Thursday revealed that he sees spot Ethereum (ETH) exchange-traded funds (ETFs) being launched sometime this summer, but he has yet to clarify the status of the Ether digital asset as a security or a commodity.