US Securities and Exchange Commission (SEC) Chairman Gary Gensler said in a statement today that the institution’s spot Bitcoin It disclosed that it is actively reviewing multiple applications for its ETFs.
Gensler declined to provide specific details about the ongoing review process, but assured staff is working diligently on applications.
“Our staff is working on these multiple files,” Gensler said in an interview on Bloomberg TV. Gensler emphasized that he would not prejudge the outcome of these investigations.
Gensler declined to comment on the regulator’s ongoing case against Grayscale following its decision last month not to appeal the court ruling. He also wasn’t clear on whether the agency would approve a single BTC ETF or wait to approve all funds within a group.
Gensler made the following statement on the subject:
“We have not one but several files before us, I think there are eight or ten files, and they are evaluated by the staff and ultimately by the Commission.”
He also stated that when an asset manager wants to take something public, those exchange-traded products must register with the SEC.
Gensler highlighted the role of the SEC’s Division of Corporate Finance and Division of Trading and Markets in reviewing these applications. “This is a time-tested process that goes back decades,” Gensler said. It’s called the Disclosure Review Team, in this group they respond and provide feedback to potential issuers,” SEC staff said.
*This is not investment advice.
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