Good news for Ethereum investors from SEC Chairman Gary Gensler: He has set a date for final approval of ETH Spot ETFs!

Speaking before the Senate Appropriations Committee, SEC Chairman Gary Gensler said he anticipates S-1s for Ethereum spot ETFs will be approved by the end of the summer.

Fox correspondent Eleanor Terrett shared details of the Ethereum ETF conversation between SEC Chairman Gary Gensler and US Senator Bill Hagerty.

Gensler said “throughout the summer,” while Hagerty said “by the end of the summer.”

“I would dream sometime during this summer…” Gensler said in response.

“If you’re telling me that these requests will be approved by the end of the summer, I appreciate it,” Hagerty said. she said “

As is known, in May the SEC approved the application called 19b-4 for spot ETFs on Ethereum. However, before Ethereum ETFs can begin trading, the SEC must also approve the S-1 filing.

While market analysts thought that approval for S-1 filings for ETH ETFs would come in June and July, the SEC chair released a statement partially consistent with these predictions.

At the time of writing, Etheruem continues to trade at $3,518.

*This is not investment advice.

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