News - Gensler takes a fresh look at Bitcoin ETFs

By Mike Hesp

Gensler takes a fresh look at Bitcoin ETFs

Bitcoin (BTC)

There is speculation in the market that a Bitcoin ETF will soon be permitted. Gary Gensler has alluded to this again, but is not revealing his cards.

Gary Gensler has hinted at a Bitcoin ETF. The regulator has reconsidered its position on exchange-traded Bitcoin products following recent court rulings, the SEC chief said.

Gensler said in a interview that court rulings had forced the agency to take a "fresh look" at Bitcoin ETFs.

The SEC has "rejected some of these applications in the past," Gensler said, adding, "So we're looking at it again based on these court rulings."

According to him, the authority is currently looking at "between eight and a dozen applications" for a Bitcoin Spot ETF.

He did not give a specific answer, but possibly referenced to the ruling in the case of asset manager Grayscale. An appeals court ruled in August that the application for a Bitcoin ETF had previously been wrongly rejected.

Whether and when a license will be granted in the U.S. remains to be seen. At least the crypto market agrees on early next year.

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