Chair

Bitcoin ETF

Bitcoin

<div class="cryptonews">
 <p class="is-style-lead">U.S. Securities and Exchange Commission Chair Gary Gensler indicated a possible change in the agency’s approach towards Bitcoin ETFs.</p>
 <p>During a CNBC interview, Gensler revealed that the U.S. Securities and Exchange Commission (SEC) is reconsidering “between eight and a dozen filings” for spot Bitcoin ETFs, a move influenced by recent court decisions in the District of Columbia.</p>
 <figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
  <div class="wp-block-embed__wrapper">
   <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
    <p lang="en" dir="ltr">SEC Chair Garry Gensler commented on @CNBC about SPOT #Bitcoin ETF. <br><br>How they have been denying a dussin of these ETFs in the past, but now BlackRock… I mean Courts in DC have intervened and now the SEC have to reprocess these ETF applications again. <br><br>Remember what I… pic.twitter.com/QrD42zaLIo</p>— Seth (@seth_fin) December 14, 2023
   </blockquote>
  </div>
 </figure>
 <p>Historically, the SEC has hesitated to approve such proposals, citing various concerns. However, Gensler hinted at a shift, attributing it to judicial input. While he avoided directly referencing the Grayscale case, the context suggests a connection. Earlier this year, Grayscale won a legal battle against the SEC, leading to a reassessment of its application to convert its Bitcoin trust into an ETF. This decision was not appealed by the SEC.</p>
 <div class="cn-block-related-link">
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"><use xlink:href="#"></use>
  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> JPMorgan: Bitcoin ETF’s impact overstated, Ethereum set to surprise skeptics
 </div>
 <p>Grayscale’s progress, alongside others rooting for ETF approval, has stirred optimism in the market. Bloomberg analysts James Seyffart and Eric Balchunas noted ongoing discussions between the SEC and Grayscale, indicating a collaborative effort toward regulatory compliance.</p>
 <p>The race for a Bitcoin ETF has attracted diverse players, including major asset managers like BlackRock. With the SEC set to decide on ARK and 21Shares’ proposal by Jan. 10, anticipation is high. Bloomberg analysts estimate a 90% chance of approval, though skeptics like former SEC staffer John Reed Stark deem such optimism “absurd.”</p>
 <div class="cn-block-related-link">
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"><use xlink:href="#"></use>
  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> Mike Novogratz: Bitcoin poised for flight over ATH on spot BTC ETF approval
 </div> <span class="google-news-banner__label">Follow Us on Google News</span>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/gensler-sec-reevaluating-spot-bitcoin-etf-with-fresh-perspective-tbt73742.html">https://thebittimes.com/gensler-sec-reevaluating-spot-bitcoin-etf-with-fresh-perspective-tbt73742.html</a></p>

Gensler: SEC reevaluating spot Bitcoin ETF with fresh perspective

TheBitTimes

Other articles published on Dec 14, 2023

US Congressman Ro Khanna Proposes Bill to Ban Congressional Stock Trading

UK Judiciary Sets Clear Guidelines for AI in Courts and Tribunals

ICE Consolidated Feed now includes cryptocurrency options data

VeChain (VET): Price Prediction For The Weekend

CoinList Settles OFAC’s Sanctions Allegations for $1.2 Million

Terra Luna Classic (LUNC) And USTC Prices Rising Today, Here’s Why

Join our free newsletter for daily crypto updates!