Gary Gensler, the Chairman of the Securities and Exchange Commission (SEC), is facing mounting pressure to approve a Bitcoin exchange-traded fund (ETF) for public trading. However, Gensler has chosen to keep his agency’s next steps regarding this matter undisclosed.
Recently, the SEC was instructed by the Court of Appeals to review the application for a Bitcoin ETF by Grayscale, the company that owns the largest Bitcoin fund in the world. This ruling has added further urgency to the discussion surrounding the approval of a Bitcoin ETF.
Despite these developments, Gensler has refrained from commenting on the SEC’s plans concerning a Bitcoin ETF. This silence is causing speculation and uncertainty within the cryptocurrency community.
In light of the Grayscale ruling, the cryptocurrency market eagerly awaits any announcement from the SEC regarding the future of Bitcoin ETFs. The decision of the regulatory authority will have a significant impact on the accessibility and legitimacy of Bitcoin as an investment option.