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During a Thursday hearing by the Senate Appropriations Subcommittee on Financial Services, US Securities and Exchange Commission Chair Gary Gensler informed Senator Bill Hagerty (R-TN) that he anticipates the agency will approve S-1 forms for spot Ethereum exchange-traded funds (ETFs) “sometime over the course of this summer.”

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The SEC approved issuers’ 19b-4 filings on May 23 but also needs to greenlight their S-1s before spot ETH ETFs go live.

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Meanwhile, Framework Ventures co-founder Vance Spencer believes Ethereum is a “tech-style growth play” that will become the app store of finance.

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ETH is at the forefront of the tokenization movement that’s really going to define the next few decades of traditional finance,” he said.

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People are going to be really surprised at the uniqueness of the scale of business Ethereum is going to generate from the tokenization wave,” Spencer added.

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