(Bloomberg) -- Wall Street’s top regulator is still evaluating its next steps in trying to force hedge funds and private equity firms to disclose more about their fees, according to Securities and Exchange Commission Chair Gary Gensler. 

Gensler said Tuesday the agency is assessing how to respond to an appeals court opinion earlier this month that blocked new SEC rules forcing firms to detail quarterly fees and more about their expenses to investors. The three-judge panel in New Orleans said the regulator had overstepped its authority in crafting the regulation. 

“We do everything within the law and how courts interpret the law,” Gensler said during an interview at the Bloomberg Invest event in New York. “If need be, we pivot,” he added.

The June 5 opinion by the 5th US Circuit Court of Appeals marked a blow for one of the signature policy efforts in Gensler’s tenure at the SEC. Hedge fund and private equity firms hailed the ruling and have also sought to challenge other recent moves by the regulator.  

“At the core, what we were seeking to achieve as a commission was greater transparency to investors, not to the public, but the investors in these funds,” said Gensler. 

In the wide-ranging interview, the SEC chief also said the agency’s ongoing review of plans to launch a US exchange-traded funds investing directly in the Ether token was “going smoothly.” He declined to say when the staff might complete their review of the paperwork and give a final greenlight to companies including VanEck, ARK Investment Management, BlackRock Inc. and Fidelity Investments. 

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