SEC Chairman: The approval of a spot Bitcoin ETF should not be overinterpreted

2024-01-25 08:13:47

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ChainCatcher news, SEC Chairman Gary Gensler stated on Wednesday that, although some expect a spot Ethereum ETF may be the next to be approved, the agency's recent approval of several spot Bitcoin trading platform products earlier this month was limited to that particular cryptocurrency.

When asked about his views on the Ethereum ETF during a media briefing, Gensler said: "As I mentioned two weeks ago, what we've done regarding Bitcoin trading platform products is limited to this non-security commodity and should not be interpreted as extending beyond that."

Gensler noted that, in this context, there is better disclosure. They are now listed on stock exchanges rather than traded over-the-counter. There are 10 or 11 listed simultaneously, bringing a certain level of competition. You have already seen some competition, benefiting investors as fees have decreased.

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