Consensys CEO: The approval of Ethereum ETF faces "huge American political issues"

Media reports, Consensys CEO Joseph Lubin stated that the early application to launch an Ethereum exchange-traded fund (ETF) in the United States is "almost complete". Several 19b-4 applications submitted by companies like BlackRock will be approved by the U.S. Securities and Exchange Commission (SEC). However, their rollout to the public may take longer and could be delayed for some time, which is a "huge American political issue." Lubin also revealed that Donald Trump's campaign team has been in contact with the cryptocurrency ecosystem for two months, trying to develop a strategy supporting cryptocurrencies. As the US presidential election approaches, SEC faces pressure to adopt a neutral stance; approval of ETH ETF might make SEC become a “thoughtful regulator”. In addition, Consensys filed legal action against SEC in April opposing its undisclosed decision classifying ETH as securities. Lubin criticized current SEC Chairman Gary Gensler's regulation as more stringent. Consensys has provided over 100 thousand pages of documents and prepared tens of millions of dollars for legal battles against SEC’s regulation on MetaMask, staking and Ethereum protocols.