SEC Chair Gary Gensler’s Message on Bitcoin’s White Paper Anniversary
Chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, has celebrated the 15th anniversary of Bitcoin’s white paper. Gensler took to social media to acknowledge Satoshi Nakamoto’s famous white paper that kickstarted the crypto revolution.
Gensler’s Playful Remark and Stern Warning to Crypto Firms
In his post, Gensler playfully wondered if Satoshi Nakamoto would dress up as himself for Halloween. However, he quickly shifted gears and issued a stern warning to crypto companies. Gensler emphasized the importance of complying with securities laws and urged firms tricking investors to start treating them with regulatory compliance.
Gensler Faces Questions on Spot Bitcoin ETF Approval
Gensler’s message attracted attention on social media, with many users asking about the approval of a spot bitcoin exchange-traded fund (ETF). While the SEC has approved ETFs based on bitcoin futures contracts, no spot bitcoin ETF has been approved yet. Gensler has consistently classified all crypto tokens as securities except for bitcoin.
Potential Approval of Multiple Spot Bitcoin ETFs
The SEC chairman revealed that the regulator is considering eight to ten spot bitcoin ETF applications. Currently, twelve applications have been filed, including those from prominent names like Grayscale Investments, ARK Investment Management, Blackrock, Bitwise, Wisdomtree, Fidelity, Vaneck, and Invesco. Speculation is growing that multiple spot bitcoin ETFs could be approved simultaneously.
Hot Take: Is a Spot Bitcoin ETF on the Horizon?
With increased interest and anticipation surrounding spot bitcoin ETFs, many analysts believe it is only a matter of time before the SEC approves one. The recent surge in bitcoin’s price was fueled by rumors of Blackrock’s imminent spot bitcoin ETF launch. Analysts at Bernstein Research have even predicted that a spot bitcoin ETF could become a reality as early as January.
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