What does it mean when the SEC approves Spot Bitcoin Exchange-Traded Funds (ETFs)
Finally – Decision Day, Dropping-The-News Day, Deliverance Day, use any D word you may want to, and join the celebration! Because, as Commissioner Hester M. Peirce of the Securities and Exchange Commission (SEC) said: ‘Out, Damned Spot! Out, I Say ‘.
The Prelude
Prior to the official news, SEC Chair Gary Gensler had turned to X (formerly Twitter) to publish his warnings on crypto investments: a thread on Monday (January 08) which highlights the volatility, lack of compliance and loads of ‘fraudsters’ and a reminder of the many risks that come with crypto on Tuesday (January 09) . The crypto community, of course, sneered at another series of crypto bashing from him. But if we take a moment to really think about it, persistent warnings right before the SEC’s deadline on spot Bitcoin ETF applications could indeed be seen as hints from Gensler…
