The U.S. Securities and Exchange Commission (SEC) is reconsidering its approach to spot Bitcoin exchange-traded products following a recent court decision involving Grayscale. SEC Chair Gary Gensler revealed in an interview that the agency has several spot Bitcoin ETF applications currently under review. Previously, the SEC had denied a number of these applications, but recent court rulings have prompted a reevaluation of their stance. Gensler emphasized that the SEC operates within the boundaries set by Congress and the courts.
Notably, a federal judge overturned the SEC’s decision to deny an ETF offering from Grayscale Investments through its Bitcoin Trust. This has sparked a race among asset managers such as BlackRock, Fidelity, Grayscale, Invesco, VanEck, and Valkyrie to launch their own spot Bitcoin ETFs. While all applications have experienced delays, analysts anticipate a batch approval in early January.
Gensler also addressed recent changes in the U.S. treasury market as a priority for the SEC during a separate interview. However, his evasive responses to questions about the number of filings for spot Bitcoin products have drawn criticism from Congressman Bryan Steil and Bloomberg ETF analyst James Seyffart. Steil accused Gensler of obfuscating and pushing crypto offshore, while Seyffart commented on Gensler’s tendency to avoid giving clear answers.
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| Information | Details |
|---|---|
| Geography | North America |
| Countries | 🇺🇸 |
| Sentiment | neutral |
| Relevance Score | 1 |
| People | Bryan Steil, James Seyffart, Gary Gensler, Sara Eisen |
| Companies | Grayscale Investments, BlackRock, VanEck, Invesco, Fidelity |
| Currencies | Bitcoin |
| Securities | BlackRock, VanEck, Invesco, Grayscale, Fidelity |
