U.S. SEC Chairman Gary Gensler remains silent on the prospect of spot Bitcoin ETFs, saying he will not “prejudge” the matter

Odaily News On Wednesday, SEC Chairman Gary Gensler remained silent when reporters asked whether the SEC might soon take action on a spot Bitcoin ETF application under review. Speaking at the Health Market Association meeting on Wednesday, Gensler said he would not prejudge the matter. He previously called the agencys review process a time-tested process. The cryptocurrency industry has been waiting for the agency to approve the first spot Bitcoin ETF. Several asset managers, including BlackRock and Fidelity, have submitted multiple applications in recent months, but so far those have been delayed. When an asset manager seeks to go public, these exchange-traded products need to register with the Securities and Exchange Commission and go through a series of document reviews, similar to an IPO, Gensler said in an interview with Bloomberg TV last month. He went on Said: So this is really the job of our corporate finance department, they will feed back on the documents, and our trading and markets department will of course look at the documents. It is a time-tested process that goes back decades. Ex. SEC staff, known as the Disclosure Review Team, but within that team, they respond and give feedback to potential issuers.”