The process of lauching the first spot Ether exchange-traded funds(ETFs) in the United States is ‘gooing smoothly’, says Seccurities and Exchange Commission Chair Gary Gensler.

Speaking at a June 25 Bloomberg conference, Gensler remained tight-lipped on when the ETFs could launch and deferred when asked if they could go live befre the November U.S elections.

‘It’s really about the asset managers making the full disclosure so that those registration statements can go effective,’ he said.

‘What is in front of us – and it’s done at a staff level is what’s called the registration statements, the disclosure statements,’ Gensler added. ‘Again, these disclosures are really important. They’re important to investors making investment decisions.

The SEC approved 19b-4 filings from eight ETF bidders on May 23 but the asset managers are still making tweaks to theair Form S-1’s – the final filings the SEC needs to approve before they go live for trading.

Analysts have predicted the SEC could approve the funds for trading as soon as next week – the first week of July.

‘Nothing inconsistent’ about securities laws.

The U.S crypto industry has raised millions and lobbied to make digital assets an election issue after facing a deluge of enforcement actions from the Gensler-led SEC.

Presidential hopeful Donnald Trump said he would end what he called President joe Biden’s ‘war on crypto,’ and billionaire investor Mark Cuban claimed Gensler could ‘literally cost joe Biden the election’.

Gensler said he doesn’t speak on elections when asked about Trump and Cuban’s comments.

‘We have a set of rules that are pretty clear. There’s nothing cinconsistent about crypto securities and the securities laws,’ he added. ‘Unfortunately, there’s a number of people that are non-compliant with the laws.’