Chair

Bitcoin

Gary

<ul class="news-points"> 
 <li>SEC approves trading of first-ever spot Bitcoin exchange-traded funds (ETFs).</li> 
 <li>SEC Chair Gary Gensler emphasizes non-endorsement of Bitcoin, calling it a “speculative, volatile asset” used for illicit activities.</li> 
 <li>Gensler votes for approval alongside Republican commissioners, while Democratic commissioners Crenshaw and Lizárraga vote against.</li> 
</ul> 
The <a href="https://coinedition.com/tag/sec/">Securities and Exchange Commission (SEC)</a> today approved the trading of the first-ever spot Bitcoin exchange-traded funds (ETFs). However, SEC Chair Gary Gensler, emphasized that this “does not approve or endorse Bitcoin,” calling it a “speculative, volatile asset” used for illicit activities. 
Gensler’s approval comes after a years-long regulatory battle with the crypto industry. For years, the SEC has rejected attempts to list spot bitcoin ETFs, citing concerns about market manipulation and investor protection.&nbsp; 
However, a recent court ruling that criticized the SEC for rejecting <a href="https://coinedition.com/grayscale-stands-ready-for-etf-conversion-post-secs-no-appeal/">Grayscale Investments’ ETF application</a> prompted a re-evaluation of its stance. In an official <a href="https://www.sec.gov/news/statement/gensler-statement-spot-bitcoin-011023" target="_blank" rel="nofollow">statement</a>, Gensler said: 
<blockquote class="wp-block-quote"> 
 I feel the most sustainable path forward is to approve the listing and trading of these spot bitcoin ETP shares. 
</blockquote> …
The post <a href="https://coinedition.com/sec-chair-gensler-calls-bitcoin-a-speculative-volatile-asset-amid-etf-approval/">SEC Chair Gensler Calls Bitcoin a “Speculative, Volatile” Asset Amid ETF Approval</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

SEC Chair Gensler Calls Bitcoin a “Speculative, Volatile” Asset Amid ETF Approval

Coin Edition

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