Chair

Bitcoin

Gary

Spot

<div class="coinjournal"> 
 <ul> 
  <li>Four House Reps. wrote a letter to SEC Chair Gary Gensler on Wednesday.</li> 
  <li>They dubbed Spot Bitcoin ETF “indistinguishable” from Crypto Futures ETF.</li> 
  <li>Bitcoin is still trading around the $26,000 level at writing on Wednesday.</li> 
 </ul> 
 <p>All eyes are on Bitcoin today after the U.S. lawmakers urged the Securities &amp; Exchange Commission to “immediately” approve applications it has received for a Spot Bitcoin ETF.</p> 
 <h2 id="house-reps-wrote-a-letter-to-gary-gensler-today">House Reps. wrote a letter to Gary Gensler today</h2> 
 <p>On Wednesday, four members of the House Financial Services Committee wrote a letter to Gary Gensler in which they argued that a Spot <a rel="dofollow" title="Bitcoin ETF" href="https://thebittimes.com/tag/bitcoin-etf.html">Bitcoin ETF</a> is not particularly different from a Crypto Futures ETF that the regulator has already <a rel="dofollow" title="approve" href="https://thebittimes.com/tag/approve.html">approve</a>d.</p> 
 <p>And so, they urged Chair of the <a rel="dofollow" title="SEC" href="https://thebittimes.com/tag/sec.html">SEC</a> in their letter to allow the likes of BlackRock, Fidelity and several others to list a Spot <a rel="dofollow" title="Bitcoin ETF" href="https://thebittimes.com/tag/bitcoin-etf.html">Bitcoin ETF</a>.</p> 
 <blockquote>
  <p>SEC’s current posture is untenable moving forward … there is no reason to continue to deny such applications under inconsistent and discriminatory standards.</p>
 </blockquote> 
 <p>Chair Gary Gensler is scheduled to testify before the U.S. Congress today.</p> 
 <h2 id="grayscale-recently-secured-a-victory-against-the-sec">Grayscale recently secured a victory against the SEC</h2> 
 <p>Last month, the U.S Court of Appeals for the DC Circuit ruled that the Securities &amp; Exchange Commission did not have an adequate reason to not let Grayscale convert its flagship bitcoin trust into an exchange-traded fund (find out more).</p> 
 <p>That ruling, as per the <a rel="dofollow" title="lawmakers" href="https://thebittimes.com/tag/lawmakers.html">lawmakers</a>, should be sufficient for Chair Gensler to get onboard with a Spot <a rel="dofollow" title="Bitcoin ETF" href="https://thebittimes.com/tag/bitcoin-etf.html">Bitcoin ETF</a>. Their letter also read:</p> 
 <blockquote>
  <p>A regulated spot bitcoin ETP would provide increased protection for investors by making access to bitcoin safer and more transparent.</p>
 </blockquote> 
 <p>Members that wrote the letter on Wednesday include Reps. Mike Flood, Wiley Nickel, Tom Emmer, and Ritchie Torres. Bitcoin is still trading around the $26,000 level at writing.</p> 
</div>
<p>Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/u-s-lawmakers-want-sec-to-immediately-approve-applications-for-a-spot-bitcoin-etf-tbt64229.html">https://thebittimes.com/u-s-lawmakers-want-sec-to-immediately-approve-applications-for-a-spot-bitcoin-etf-tbt64229.html</a></p>

U.S. lawmakers want SEC to ‘immediately’ approve applications for a Spot Bitcoin ETF

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