SEC’s Gensler Doubles Down on Concerns About Spot Bitcoin ETFs
- Gensler reiterates unease in comments to U.S. lawmakers
- SEC has thrown cold water on ETFs directly holding Bitcoin
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Securities and Exchange Commission Chair Gary Gensler zeroed in on his concerns about exchange-traded funds that directly hold Bitcoin, the latest snub to hopes that the long-desired product would gain clearance by U.S. regulators.
In response to questions from Pat Toomey, the top Republican on the Senate Banking Committee, Gensler reiterated his concerns about the lack of regulatory oversight of Bitcoin and potential for fraud and manipulation. He said that even though non-U.S. regulators have approved a spot ETF, the SEC’s decision wouldn’t be influenced by that.