SEC Bitcoin ETF Approval: Gensler’s Social Media Post and What it Means for Investors

2024-01-09 18:11:06

Despite the fact that the US Securities and Exchange Commission (SEC) has not scheduled a meeting before January 10, this does not mean that they will not decide on the approval of US Bitcoin spot ETFs. According to the process, Director Gary Gensler may choose to vote on the decision without calling a meeting. Speaking of, Gensler. A few hours following the applicants filed their likely final registration documents with the authority, the SEC chief posted on social media site X published a post regarding itwhat you think regarding cryptocurrencies in general.

Gensler’s post can be a particularly positive sign

Basically, in the post, the director warned investors interested in cryptos to invest very carefully. As he wrote, “those offering crypto-investments may not be acting in accordance with applicable laws.” So investors need to understand that key information is not available to them. And they won’t get the proper protection if they invest in crypto. If the past is anything to go by, then Gensler’s post may be good news. When a branch of the SEC posted a similar warning in 2021, bitcoin futures ETF applications were approved the next day on October 15, 2021.

Gensler’s recent post came three hours following Grayscale, ARK/21Shares, BlackRock, Bitwise, VanEck, Wisdomtree, Invesco/Galaxy, Fidelity, Valkyrie and Franklin Templeton filed their supplemental S-1 filings. It’s the final step before an SEC rejection or approval, experts say. Overall, there are no surprises in the post of SEC leader. There has already been a similar SEC post and we have known Gensler’s position on cryptos for a long time. According to him, Bitcoin is a speculative investment tool and he has said this quite a few times over the years.

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