SEC Chairman Gary Gensler has affirmed the approval of all Bitcoin Spot ETF products. Gensler emphasized the SEC’s commitment to legal compliance and court interpretations, highlighting that under Clayton’s leadership from 2018 to March 2023, over 20 exchange rule applications for spot Bitcoin ETPs, including Grayscale’s proposal, were not approved.
Gensler clarified that the approval is restricted to ETPs holding non-security commodities like BTC. This does not imply SEC readiness to approve listing standards for cryptoasset securities or offer clarity on the regulatory status of other cryptoassets under federal securities laws.
The SEC Chairman underscored that most crypto assets are viewed as investment contracts and fall under federal securities laws.
