SEC Chair Gary Gensler mentioned that despite approving the associated 19-4b filings for spot Ethereum ETFs last month, their launch will be delayed as they go through standard procedures. He did not specify a timeline for their introduction during a June 5 CNBC interview responding to Jim Cramer's inquiries about potential cryptocurrency exchange-traded products beyond Bitcoin and Ethereum.

Gensler also criticized crypto exchanges for unethical practices, emphasizing ongoing issues of fraud and manipulation in the market. He reaffirmed the SEC's commitment to ensuring market integrity but expressed concerns about the lack of proper disclosure and regulation across the broader crypto market. According to Gensler, many cryptocurrencies fail to meet the fundamental disclosure requirements expected of regulated assets, which hinders investors' ability to make informed decisions.

Furthermore, Gensler highlighted disparities between crypto exchanges and traditional stock exchanges like the NYSE, noting that crypto exchanges engage in practices prohibited under US laws, such as trading against their customers, leading to significant conflicts of interest.

Addressing the role of artificial intelligence (AI) in financial markets, Gensler acknowledged its transformative potential but cautioned about risks related to conflicts, fraud, and systemic issues if AI is not managed properly.

The interview also covered broader market topics, including the importance of public markets in providing transparent investment opportunities and the growth of private credit markets, emphasizing the need for fair competition across all sectors.