Perhaps to avoid causing market volatility? U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler has rarely expressed a stance on cryptocurrencies other than Bitcoin. He once again poured cold water on Ethereum spot ETFs at a media briefing.
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ToggleGary Gensler: Doesn’t agree with assets other than Bitcoin
Gary Gensler recently held a media briefing. According to foreign media The Block , since the SEC released the Bitcoin ETF, it is generally believed that the next one to pass the test will be the "Ethereum spot ETF".
In this regard, Gary Gensler reiterated his previous position:
As I said two weeks ago, our work on the Bitcoin ETF is limited to BTC, a single non-security commodity, and this should not be interpreted as our endorsement of any other commodity.
Spot ETFs increase Bitcoin transparency
Although Gensler originally explained in the statement that the Bitcoin ETF was released mainly because of Grayscale’s defeat, he pointed out that the current Bitcoin trading environment has been significantly optimized:
From this perspective, Bitcoins have greater transparency, as they are listed on exchanges rather than traded in the over-the-counter market. There are 11 issuers operating at the same time, which creates a certain competitive environment. We can already see some business competition, and investors benefit from lower fees.
The SEC’s actions in the crypto field are still ongoing, and the SEC’s lawsuits with Binance and Coinbase have not yet been officially concluded.
( SEC hopes to cite the Terraform Labs ruling to win in the Binance and Coinbase cases )
