SEC Chair Gary Gensler has indicated that the approval process for a Spot Ethereum ETF is proceeding smoothly, with expectations for a launch potentially in July.

Speaking at the Bloomberg Invest Summit, Gensler highlighted ongoing discussions and S-1 filings with issuers as pivotal steps before the ETFs can begin trading.

“We’re seeing individual issuers work through the registration process smoothly,” stated Gensler during the summit.

He expressed optimism about a summer launch, emphasizing that finalizing disclosures and registrations remains essential.

Gensler’s comments reiterate earlier statements made before the US Senate Appropriations Subcommittee on Financial Services, where he underscored the progress of Ether ETF approvals.

Despite the optimistic outlook, Gensler refrained from providing a specific timeline for the product’s launch.

Throughout his remarks, Gensler reiterated concerns about the cryptocurrency market’s compliance and investor protection.

He critiqued the industry’s use of non-compliant platforms and emphasized the classification of many cryptocurrencies as securities, stressing the need for enhanced disclosures to protect investors.

The anticipated Spot Ethereum ETF aims to replicate the success of its Bitcoin counterpart, which saw significant market enthusiasm earlier this year.

Just months after its launch, the Bitcoin ETF reached a record-high price of $73,000, setting a precedent for potential market impacts upon the Ethereum ETF’s debut.