The SEC To Evaluate Bitcoin Spot ETFs

The SEC has been making lots of headlines lately due to their interest in crypto. Now, it’s been revealed that the US SEC will continue to review Bitcoin (BTC) exchange-traded fund ETF proposals according to the SEC chair, Gary Gensler. Check out the available notes below.

It’s been also revealed the fact that the U.S. Representatives Tom Emmer, a Republican from Minnesota, and Darren Soto, a Democrat from Florida, wrote Gensler in November expressing concerns and questioning the reasons for which the SEC wasn’t comfortable allowing a Bitcoin spot ETF to trade.

The SEC greenlit the launch of two Bitcoin futures ETFs last October, as the online publication the Daily Hodl notes.

Emmer argued in the letter and stated the following:

“While the trading of Bitcoin futures ETFs is a great step forward for the millions of American investors who have been demanding regulatory clarity, it does not make sense that Bitcoin spot ETFs cannot also commence trading.”

He also said this:

“As I am sure Chairman Gensler understands, Bitcoin futures are, by definition, a derivative of the underlying Bitcoin spot market.”

On Thursday, Emmer shared Gensler’s response to their letter. We suggest that you check out the original notes in order to learn more details about all this.

We received a response from SEC Chair Gensler to our 11/3/21 letter regarding BTC spot ETFs. This issue remains a priority for us and we will continue to oversee the SEC in its mission to maintain fair and orderly markets and facilitate capital formation. pic.twitter.com/WbgSDj7o0T

— Tom Emmer (@RepTomEmmer) February 17, 2022

Not too long ago, we also revealed the fact that the U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler says that the agency is coordinating with crypto exchanges in order to protect the interest of the public.

In a new interview with Bloomberg, Gensler said that part of the SEC’s agenda is to communicate with crypto exchanges in order to establish regulatory certainty on the many available digital assets.