The world’s largest asset manager BlackRock‘s spot yesterday Bitcoin ETFHe filed an application with the SEC for
to this news bitcoin It responded positively, climbing as high as $25,800.
BlackRock’s spot ETF application was received positively by the market Patrick McHenry, Chairman of the US House Financial Services Committee.support came from
Posting on Twitter, Patrick McHenry stated that he supports BlackRock’s ETF application.
Criticizing the SEC and its Chairman Gary Gensler’s approach to regulating the cryptocurrency industry through sanctions, McHenry said he will closely monitor BlackRock’s Bitcoin ETF application and the SEC’s response.
McHenry said that while the decision on the ETF rests with chairman Gensler, the SEC should not make ETF acceptance or rejection decisions based on inconsistent factors.
“The decision on the ETF rests with SEC Chairman Gary Gensler.
However, the SEC should not make an ETF acceptance or rejection decision based on inconsistent factors. I will closely monitor BlackRock’s spot ETF application.”
your move, @GaryGensler.
the @SECGov must not pick winners and losers based on inconsistent factors. I’ll be watching this closely. https://t.co/iKPiQgPwQU
— Patrick McHenry (@PatrickMcHenry) June 15, 2023
Patrick McHenry has criticized Gensler before. In this context, Gensler wrote in a letter to several senators that the SEC’s approach to the cryptocurrency industry is hurting investors, saying that this approach is hurting the economy as a whole, and that the unique benefits of cryptocurrency technology are not being recognized.
It should be noted that although BlackRock has submitted a spot Bitcoin ETF application, the SEC has so far approved several BTC futures ETFs, not accepting any spot Bitcoin ETF applications.
In this context, the SEC has previously 21 Shares, WisdomTree, Fidelity, SkyBridge, Valkyrie Investments and VanEck rejected the spot Bitcoin ETF application of different companies, including
SEC market manipulation, fraud and fundamental BTC rejected spot BTC ETFs for reasons such as lack of transparency in the market.
*Not investment advice.
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