Securities and Exchange Commission (SEC) Chairman Gary Gensler refrained from providing information regarding the potential approval of Bitcoin Spot ETFs in his speech at the Healthy Markets Association conference recently. The Bitcoin and altcoin industry has been eagerly awaiting the SEC’s decision on numerous applications, including those from big players such as BlackRock and Fidelity. Gensler emphasized the agency’s rigorous review process and reiterated his concerns about the broader crypto industry.
Gensler remained silent on Bitcoin ETF
At a recent press conference, SEC Chairman Gary Gensler chose not to comment on the status of spot Bitcoin ETF applications under the agency’s review. The industry remains in limbo as it awaits approval of the first spot Bitcoin ETF, with Gensler emphasizing the importance of not approaching the issue with “prejudice.” Gensler refrained from revealing any details about the potential approval or rejection of spot Bitcoin ETFs during his speech at the Healthy Markets Association conference. The crypto community is closely monitoring developments, especially as applications from major asset managers such as BlackRock and Fidelity await regulatory green lights.
Gensler emphasized the SEC’s well-established review process for such filings, comparing it to the filing process for traditional initial public offerings (IPOs). He underlined the need for publicly traded products to be registered with the SEC. He stated that the Institution’s Corporate Finance Department provides feedback to potential issuers.
SEC seeks to address concerns
The SEC began discussions with representatives of Invesco and BlackRock to address concerns about “balance sheet impacts and risks.” Recent meetings with Grayscale and BlackRock indicated that the institution engaged in extensive negotiations before making a decision on spot Bitcoin ETFs. The SEC held new meetings with key industry players, including Invesco and BlackRock, to address concerns and seek solutions. Discussions focused on potential approaches to mitigate concerns about “balance sheet impacts and risks” associated with spot Bitcoin ETFs.
This follows a series of discussions between the SEC and industry leaders, as seen in recent meetings with Grayscale and BlackRock. While the cryptocurrency industry eagerly awaits the SEC’s decision on spot Bitcoin ETFs, Gensler’s silence leaves room for speculation. Industry giants, including BlackRock and Fidelity, continue to navigate the regulatory landscape, seeking approval for products that could significantly impact the crypto market. The SEC’s ongoing discussions with key players are critical. Investors and enthusiasts remain vigilant, awaiting regulatory clarity that could potentially shape the future of crypto investing.
To be informed about the latest developments, follow us Twitter’in, Facebookin and InstagramFollow on . Telegram And YouTube Join our channel.