Experts Speculate on Gensler’s Possible Rugpull
A group of experts has engaged in a discussion about the intentions of US SEC Chairman Gary Gensler regarding spot Bitcoin ETF applications. Bloomberg ETF Analysts, Eric Balchunas and James Seyffart, along with ETF Commentator David Nadig, shared their thoughts on Twitter. They considered the possibility that Gensler may be planning a rug pull by rejecting all spot applications. Nadig described it as a “giant Gensler semi-comedic rug-pull,” while Seyffart believed it would be an epic move on Gensler’s part. Balchunas also entertained the idea but expressed doubts about its likelihood and potential legal consequences.
Vanguard Opts Out of Spot Bitcoin ETF Trend
As the US SEC reviews spot BTC ETF applications, more firms are joining the race for approval. BlackRock, Ark Invest, WisdomTree, Fidelity, VanEck, Bitwise, and Valkyrie Bitcoin Funds have all submitted applications. However, Vanguard CEO Tim Buckley revealed that his firm has no plans to join this list. The decision may not be influenced by Vanguard Founder John C. Bogle’s disapproval of ETFs. Instead, Buckley emphasized Vanguard’s focus on asset classes with intrinsic values and cash flows rather than digital assets like Bitcoin.
Hot Take: Gensler’s Approach Raises Speculation
The discussion surrounding Gary Gensler’s stance on spot Bitcoin ETF approvals has led to speculation among experts. While some believe that Gensler may be planning a rug pull by rejecting all applications, others find this scenario unlikely but acknowledge potential legal consequences if it were to happen. Meanwhile, Vanguard has chosen not to participate in the spot Bitcoin ETF trend, with CEO Tim Buckley emphasizing their focus on traditional asset classes. The uncertainty surrounding Gensler’s next move and the growing interest in Bitcoin ETFs continue to fuel discussions within the crypto community.
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