SEC’s Gensler weighs in on pending Bitcoin ETF applications: Details
The post SEC’s Gensler weighs in on pending Bitcoin ETF applications: Details appeared on BitcoinEthereumNews.com. TLDR SEC Chair Gary Gensler discussed the ongoing review of multiple applications for spot Bitcoin ETFs, stating the SEC staff are actively working on them but refrained from committing to any specific actions. The SEC initiated Additional proceedings last month, leading to at least another month of delay in the decision-making process for proposed Bitcoin ETFs from asset managers like BlackRock, Invesco, Valkyrie, and Fidelity. Gensler highlighted the role of various SEC divisions in reviewing the applications, including the Division of Corporation Finance and the Division of Trading and Markets, emphasizing that this is a time-tested process involving multiple layers of scrutiny. Securities and Exchange Commission (SEC) Chair Gary Gensler offered a few new insights into the highly-anticipated approval process for spot Bitcoin Exchange-Traded Funds (ETFs) during a recent interview with Bloomberg TV. Without delving into specifics, Gensler stated that the SEC staff is “doing work on those multiple filings.” Moreover, the SEC Chair declined to offer any commentary on the regulatory body’s ongoing case against Grayscale Investments following last month’s court ruling, which the company chose not to appeal. A maze of filings, yet silence on approval Asset management giants such as BlackRock, Invesco, Valkyrie, and Fidelity are in a holding pattern as the SEC has instituted additional proceedings to determine the fate of their proposed spot Bitcoin ETFs. These proceedings suggest that the agency is opting for a meticulous approach, potentially adding at least another month to the already-in-progress review processes. Additionally, Gensler wouldn’t confirm if the SEC would approve a single fund first or wait for a comprehensive group approval. In his discussion with Bloomberg TV, Gensler emphasized that multiple filings, perhaps as many as eight or ten, are currently under review. He explained that these are not just routine applications but involve significant deliberation from different…
The post SEC’s Gensler weighs in on pending Bitcoin ETF applications: Details appeared on BitcoinEthereumNews.com.
TLDR SEC Chair Gary Gensler discussed the ongoing review of multiple applications for spot Bitcoin ETFs, stating the SEC staff are actively working on them but refrained from committing to any specific actions. The SEC initiated Additional proceedings last month, leading to at least another month of delay in the decision-making process for proposed Bitcoin ETFs from asset managers like BlackRock, Invesco, Valkyrie, and Fidelity. Gensler highlighted the role of various SEC divisions in reviewing the applications, including the Division of Corporation Finance and the Division of Trading and Markets, emphasizing that this is a time-tested process involving multiple layers of scrutiny. Securities and Exchange Commission (SEC) Chair Gary Gensler offered a few new insights into the highly-anticipated approval process for spot Bitcoin Exchange-Traded Funds (ETFs) during a recent interview with Bloomberg TV. Without delving into specifics, Gensler stated that the SEC staff is “doing work on those multiple filings.” Moreover, the SEC Chair declined to offer any commentary on the regulatory body’s ongoing case against Grayscale Investments following last month’s court ruling, which the company chose not to appeal. A maze of filings, yet silence on approval Asset management giants such as BlackRock, Invesco, Valkyrie, and Fidelity are in a holding pattern as the SEC has instituted additional proceedings to determine the fate of their proposed spot Bitcoin ETFs. These proceedings suggest that the agency is opting for a meticulous approach, potentially adding at least another month to the already-in-progress review processes. Additionally, Gensler wouldn’t confirm if the SEC would approve a single fund first or wait for a comprehensive group approval. In his discussion with Bloomberg TV, Gensler emphasized that multiple filings, perhaps as many as eight or ten, are currently under review. He explained that these are not just routine applications but involve significant deliberation from different…
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