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Can Gary Gensler Pose Obstacles for Spot Bitcoin ETFs? Concerns Are Not Over!

  • The deadline for the SEC to decide on the Ark 21Shares spot Bitcoin ETF is January 10th, and this will provide clear signals to the market.
  • Given the SEC’s rapid additional comments on pending S-1 forms related to spot Bitcoin ETF applications, there are expectations for further changes.
  • Interestingly, a warning was shared that the 5-member SEC Committee could potentially delay the approval of the spot Bitcoin ETF.

Concerns still exist within the crypto community awaiting a definitive decision from the U.S. Securities and Exchange Commission!

Will Gensler Impose Hurdles for Bitcoin ETFs?

Bitcoin-BTC

The recent rapid additional comments by the U.S. Securities and Exchange Commission (SEC) on S-1 notifications related to spot Bitcoin ETF applications have raised concerns in the crypto market, where people are still hopeful for spot Bitcoin ETF approval this week. The deadline for the SEC to decide on the Ark 21Shares spot Bitcoin ETF is January 10th, and this will provide clear signals to the market.

Given the SEC’s rapid additional comments on pending spot Bitcoin ETF applicants’ S-1 forms, there are expectations for further changes. Perianne Boring, President and Founder of the Chamber of Digital Commerce, hopes that the comment about the delay in spot Bitcoin ETF approval is incorrect, but there are more concerns about SEC Chairman Gary Gensler finding another way to block approvals.

Boring says, “SEC has more tools to prevent the launch of spot Bitcoin ETFs. Chairman Gensler doesn’t want to go without a fight. I hope for a successful start this week.” Today, she referred to the SEC comments as a signal of delay. However, Bloomberg ETF analyst James Seyffart claims that the additional comments are not a move to delay ETF approval.

What Can Commission Members Do for ETFs?

Responding to James Seyffart’s comments on Perianne Boring’s recent post, he said, “This is nightmare fuel, and it’s exactly the kind of thing that keeps me awake at night.” Interestingly, a warning was shared that the 5-member SEC Committee could potentially delay the approval of the spot Bitcoin ETF. Each commissioner, including Gary Gensler, Caroline Crenshaw, Hester Peirce, Jaime Lizárraga, and Mark Uyeda, has the right to request a review and full commission vote under 17 C.F.R. Section 201.431, even if a matter is assigned, delegated, and approved.

Attorney John Deaton, representing 75,000 XRP holders, reacted to Gary Gensler’s latest tweet about investing in crypto assets. Deaton warned the crypto community to evaluate anything coming from Gensler, a temporary regulator, with caution due to his biased views on crypto. He criticized Gensler for meeting with Sam Bankman-Fried but criticized him again for refusing to have a private meeting with Coinbase CEO Brian Armstrong and CLO Paul Grewal.

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Celal Mutlu
Celal Mutluhttps://coinotag.com/
Celal Mutlu is a young Satoshi reflection at the age of 21. His favorite characters are CZ and Vitalik, and he has a great sense of humor. Celal is a keen follower of developments in the world of cryptocurrency and keeps up with the latest news and trends.
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