Better Markets has once again written to the SEC to block the approval of the Bitcoin spot ETF

ChainCatcher news, the American financial reform group Better Markets has once again written to the SEC hoping to block the approval of the Bitcoin spot ETF (the SEC is still collecting public opinions). Better Markets stated in the letter that if the SEC allows a speculative, highly volatile, and socially unhelpful financial product to be opened up to tens of millions of American investors and retirees, it would be a historic mistake. The fraud and manipulation in the Bitcoin market mean that approving these products would expose these investors to dangers that are not protected by the SEC.

In response, FOX Business reporter Eleanor Terrett stated that while she does not believe this letter will change the outcome of the SEC's approval of the Bitcoin spot ETF, it is worth noting that Better Markets' president and CEO Dennis Kelleher and SEC chairman Gary Gensler are very close, having served together on Biden's transition team.

ChainCatcher previously reported that the nonprofit organization Better Markets pointed out in its submitted letter that the U.S. SEC should reject the recent large number of spot Bitcoin ETF applications, as this could harm investors.