Gary Gensler Weighs in On Pending Spot BTC ETF Applications

Gary Gensler (Chairperson, SEC) annoys the crypto community as he declines to comment on the approval of much hyped spot Bitcoin ETFs.
Gary Gensler weighs in on pending Spot BTC ETF Applications
Gary Gensler weighs in on pending Spot BTC ETF Applications

Gary Gensler (chairperson of the SEC), has avoided giving a clear answer when asked about spot Bitcoin ETFs.

When questioned by a Bloomberg reporter whether the SEC will accept spot Bitcoin ETFs, Gensler stated that he cannot prejudge any proposal in this area. He stated that the SEC is working on several submissions and that various sections of the agency are speaking with ETF issuers and offering comments to them.

During the interview, the SEC chair declined to comment on any of the ETFs’ approvals and also refused to indicate if the discussions between the ETF issuers and the agency were fruitful.

Gensler acknowledged that approximately ten spot Bitcoin ETF issuers are now awaiting confirmation from the SEC staff. These issuers include BlackRock’s iShare, ARK Invest, Fidelity, and others.

The interview also addressed Grayscale’s legal battle with the SEC over the conversion of the GBTC fund into a spot Bitcoin ETF.

Grayscale won a court decision in August to have the SEC assess its application. The agency was permitted to appeal the court verdict, but Gensler said that “we didn’t appeal last Friday,” as no files were received. He also remained silent on Grayscale’s legislation.

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