SEC Chair Gensler Hints at Possible Shift in Bitcoin ETF Approval

SEC Chair Gensler Hints at Possible Shift in Bitcoin ETF Approval



U.S. Securities and Exchange Commission Chair Gary Gensler has suggested a potential shift in the agency's approach to Bitcoin ETFs. During an interview with CNBC, Gensler disclosed that the SEC is reevaluating "between eight and a dozen applications" for Bitcoin ETFs based on the spot market, influenced by recent court rulings in the District of Columbia.



Historically, the SEC has been cautious about approving such proposals, citing various concerns. However, Gensler hinted at a change in stance, attributing it to input from the judiciary. While he didn't directly mention the Grayscale case, the context implies a connection. Earlier this year, Grayscale emerged victorious in a legal battle against the SEC, leading to a reconsideration of its application to convert its Bitcoin trust into an ETF. The SEC did not challenge this


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