Ethereum ETF, SEC blames issuer for approval to launch product, issuer blames Ethereum Foundation?

U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler told Reuters on Friday (local time) that “the timeline for the launch of an Ethereum spot ETF will depend on the speed of the product applicants. It will be determined by how quickly they respond to regulatory questions and provide relevant comments,” he said.

He declined to say whether the process would take weeks or months. “The outcome of the Grayscale litigation impacted the decision to approve the Bitcoin spot ETF, and that has influenced the SEC's position on the Ethereum spot ETF,” he said. “Correlation to the market is a key factor in approving an Ethereum spot ETF. This is relatively similar to Bitcoin."

Meanwhile, Evgeny Gaevoy, CEO of crypto market maker Wintermute, a highly influential market maker, pointed out that “if ETH fails in the future, it will not be because ‘SOL is faster’, but because Ethereum's ‘elites’ are stuck in a huge contradiction.”

"Ethereum ecosystem leaders like Ethereum founder Vitalik Buterin and Uniswap (UNI) founder Hayden Adams emphasize social responsibility while creating a system based on capitalist incentives. Sorry, but you can't have it both ways: capitalism and socialism. Personally, I prefer everything about capitalism, even if it's often ugly. The simplest thing to say to refute socialists is that unlike socialism, capitalism actually functions."

Vitalik Buterin recently criticized celebrity meme coin launches, saying, “I can respect celebrities launching meme coins for worthy causes, such as healthcare, open source software, and art, but I cannot respect meme coins being used as a means to an end that is not.”