Editorial Board
Bitcoin ETF Approval Fails Investors
The SEC should have tried harder to reform the unregulated spot trading markets.
Go ahead, risk it.
Photographer: Drew Angerer/Getty Images North AmericaWhat was Gary Gensler thinking?
The chair of the Securities and Exchange Commission cast the tie-breaking vote last week to approve 11 exchange-traded funds based on the spot price of Bitcoin. Over the objections of his fellow Democratic commissioners, Gensler argued that the decision was “the most sustainable path forward” after a court struck down the SEC’s prior attempt to deny an application.