Chair

Gary

<p>US Democrat Senators Jack Reed and Laphonza Butler are pressuring the US Securities and Exchange Commission (SEC) chair Gary Gensler to halt any further approvals of crypto exchange-traded funds (ETFs).</p>
<p>In a <a href="https://twitter.com/AlexanderGrieve/status/1768373756169261076" target="_blank" rel="noopener noreferrer nofollow">letter</a> dated March 11, the duo said crypto ETFs expose investors to “thinly traded” markets prone to fraud and manipulation. Retail investors “face enormous risks” by investing in these products because of their prices, the letter said.</p>
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <p lang="en" dir="ltr">🚨NEW: Rhode Island Senator <a href="https://twitter.com/SenJackReed?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@SenJackReed</a> and California Senator <a href="https://twitter.com/Senlaphonza?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@Senlaphonza</a> have penned a letter to <a href="https://twitter.com/GaryGensler?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@GaryGensler</a> asking for the agency to step in to ensure broker-dealers are giving investors the proper disclosures around the <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a> ETFs (which they say should be properly referred… <a href="https://t.co/xwlfu7kx3F" rel="noopener noreferrer nofollow">pic.twitter.com/xwlfu7kx3F</a></p>
 <p>— Eleanor Terrett (@EleanorTerrett) <a href="https://twitter.com/EleanorTerrett/status/1768399360880992423?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">March 14, 2024</a></p>
</blockquote>
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<p>The senators are urging the SEC to “protect investors from fraud and abuse, which may be enabled by the current light-touch regulatory regime applicable to Bitcoin ETP.”</p>
<h2 id="letter-to-sec-casts-a-pall-over-spot-ether-etf-applications">Letter To SEC Casts A Pall Over Spot Ether ETF Applications</h2>
<p>The letter casts an air of pessimism over the potential approval of spot Ether ETFs, said Bloomberg ETF analyst Eric Balchunas. Eight applications for such products are currently awaiting regulatory approval.</p>
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <p lang="en" dir="ltr">The blockbuster success of the Bitcoin ETF is upsetting to high ranking Dems. Buyer’s remorse. This is part of why we are pessimistic re spot Eth etf approval chances. <a href="https://t.co/SGEAkGQGyD" rel="noopener noreferrer nofollow">https://t.co/SGEAkGQGyD</a></p>
 <p>— Eric Balchunas (@EricBalchunas) <a href="https://twitter.com/EricBalchunas/status/1768403892218331603?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">March 14, 2024</a></p>
</blockquote>
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<p>Reed and Butler said that while Bitcoin has its weaknesses, it was more established and scrutinized than other cryptocurrencies. They urged the SEC to refrain from allowing more crypto assets into the US ETF market.</p>
<p>The Chief Legal Officer for Coinbase, Paul Grewal, defended Ether ETFs, saying the largest altcoin has a deep and liquid spot market. Only two S&amp;P 500 stocks have a higher notional dollar trading volume than Ether, he said.</p>
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <p lang="en" dir="ltr">Respectfully Senators, the evidence points exactly the opposite way. We have discussed our analysis with SEC staff and would be happy to do the same for you and any other policy makers who have questions. 1/7 <a href="https://t.co/juFj4QyDnj" rel="noopener noreferrer nofollow">https://t.co/juFj4QyDnj</a></p>
 <p>— paulgrewal.eth (@iampaulgrewal) <a href="https://twitter.com/iampaulgrewal/status/1768438923406041265?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">March 15, 2024</a></p>
</blockquote>
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<p>Grewal also noted that many other cryptocurrencies have demonstrated metrics that surpass many of the largest traded equities.</p>
<h2 id="also-read">Also Read</h2>
<ul>
 <li><a href="https://insidebitcoins.com/news/bitcoin-price-prediction-btc-plunges-7-as-experts-say-this-green-alternative-may-be-the-best-crypto-to-buy-now" rel="noopener noreferrer nofollow">Bitcoin Price Prediction: BTC Plunges 7% As Experts Say This Green Alternative May Be The Best Crypto To Buy Now</a></li>
 <li><a href="https://insidebitcoins.com/news/institutional-investors-to-unleash-more-massive-bitcoin-etf-buying-btc-may-soar-past-200k-this-year-bitwise-says" rel="noopener noreferrer nofollow">Institutional Investors To Unleash More Massive Bitcoin ETF Buying, BTC May Soar Past $200k This Year, Bitwise Says</a></li>
 <li><a href="https://insidebitcoins.com/news/us-sec-postpones-decision-on-blackrocks-ethereum-etf-shiba-inu-and-nuggetrush-skyrockets" rel="noopener noreferrer nofollow">US SEC Postpones Decision on BlackRock’s Ethereum ETF; Shiba Inu and NuggetRush Skyrockets</a></li>
</ul>
<div class="inContentProviderSingle inContentColor--insidebitcoins fc-row">
 <div class="inContentProviderSingle--wrapper">
  <div class="container">
   <div class="row mb-lg-3">
    <div class="col-12 col-md-8">
     <p class="inContentProviderSingle--title">New Crypto Mining Platform - Bitcoin Minetrix</p>
    </div>
    <div class="col-12 col-md-4">
     <div class="inContentProviderSingle--rating">
      <div class="rating--holder">
       <p class="rating--text">Rating</p>
       <div class="rating--star-container">
        <div class="rating--star" style="width: 100%;"></div>
       </div>
      </div>
     </div>
    </div>
   </div>
   <div class="row">
    <div class="col-12 col-md-12 text-center d-block d-sm-block d-md-none d-lg-none"><img decoding="async" class="inContentProviderSingle--img mb-3" src="https://insidebitcoins.com/wp-content/uploads/2023/09/bitcoin-minetrix.svg" alt="Bitcoin Minetrix" width="125" height="60">
    </div>
    <div class="col-12 col-md-8">
     <ul class="inContentProviderSingle--list">
      <li>Audited By Coinsult</li>
      <li>Decentralized, Secure Cloud Mining</li>
      <li>Earn Free Bitcoin Daily</li>
      <li>Native Token On Presale Now - BTCMTX</li>
      <li>Staking Rewards - Over 50% APY</li>
     </ul>
    </div> 
    <div class="col-12 col-md-4 d-none d-sm-none d-md-block d-lg-block"><img decoding="async" class="inContentProviderSingle--img float-right" src="https://insidebitcoins.com/wp-content/uploads/2023/09/bitcoin-minetrix.svg" alt="Bitcoin Minetrix" width="125" height="60">
    </div>
   </div>
   <div class="row">
    <div class="col-12 text-center">
     <div class="inContentProviderSingle--button"><a href="https://insidebitcoins.com/visit/bitcoinminetrix" title="Start Trading" rel="noopener noreferrer nofollow">Learn More</a>
     </div>
     <div class="inContentProviderSingle--disclaimerText">
     </div>
    </div>
   </div>
  </div>
 </div>
</div>

US Senators Urge SEC Chair Gary Gensler To Halt Crypto ETF Approvals Over “Enormous Risks”

目录

Inside Bitcoins

发布于 2024年3月15日的其他文章

Senators Send a Letter to SEC Chair: Coinbase Executive Weighs In

PARSIQ (PRQ) Price Prediction 2025, 2026, 2027, 2028, 2029 and 2030

Crypto ETFs: CoinBase Slams Senators Creating Hurdles for SEC

Bitcoin Dips 5%: Is Bitcoin’s Bullish Future in Despair?

Gaming platform engages users with benefits, bonuses

Ethereum Classic (ETC) & Filecoin (FIL) Holders Flock to Kelexo (KLXO) Lending Sensation, Eyeing ...

订阅我们免费的电子期刊，获取每日最新加密领域动态！