The process of launching spot Ethereum exchange-traded funds is "going smoothly," U.S. Securities and Exchange Commission Chair Gary Gensler said on Tuesday.

"I don't know the timing, but it's going smoothly," Gensler said at a Bloomberg Invest Summit in New York. 

The SEC approved 19b-4 forms for eight Ethereum ETFs last month. Firms vying for those products still need their registration statements, called S-1s (or S-3, in the case of Grayscale, which is seeking to convert its Ethereum Trust to an ETF), to become effective before trading can begin.

Firms filed amended registration statements last week, which further disclosed details on seed investments and fees as they await the SEC's final sign-off to begin trading.

"It's really about the asset managers making the full …