Gary Gensler Avoids Questions About Bitcoin ETF

US Securities and Exchange Commission (SEC) Chairman Gary Gensler dismissed a question from a Bloomberg Television reporter regarding the current status of applications to launch spot Bitcoin ETFs.

Gensler did not want to talk about #Bitcoin or Crypto with @kaileyleinz today after their meeting where the SEC made changes to the treasury markets haha ​​(admittedly he does have a point but Kailey focused on treasuries for 5 minutes before this question lol) pic.twitter.com/Ll9uCGJYEX

— James Seyffart (@JSeyff) December 13, 2023

In an interview after an agency meeting on changes in the field of treasury bonds, the head of the SEC said:

Gesler added that cryptocurrencies are not only less valuable, but have also caused harm to many investors.

Bloomberg analyst James Seyffert acknowledged that Gensler “wasn’t all that wrong in his monologue.” However, before the question regarding cryptocurrencies, the journalist discussed the relevant topic of the meeting with him for about five minutes and could count on an answer, the expert noted.

The SEC is considering more than a dozen proposals to register exchange-traded funds based on the spot price of Bitcoin. Among the applicants are BlackRock, Grayscale, Franklin Templeton and Fidelity, whose representatives continued to discuss the potential launch of products with the regulator in early December. The process began in November and, according to experts, has reached the final stage.

Previously, Gensler has repeatedly stated that cryptocurrencies are securities and should be regulated by the SEC. The head of the US Commodity Futures Trading Commission, Rostin Benham, on the contrary, considers most digital assets to be commodities.