U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler announced today that the agency is actively reviewing multiple applications for spot Bitcoin ETFs.
Gensler declined to provide specific details about the ongoing review process, but assured staff is working diligently on applications.
“Our staff is working on these multiple files,” Gensler said in an interview on Bloomberg TV. Gensler emphasized that he would not prejudge the outcome of these investigations.
Gensler declined to comment on the regulator's ongoing case against Grayscale following its decision last month not to appeal the court ruling. He also wasn't clear on whether the agency would approve a single BTC ETF or wait to approve all funds within a group.
Gensler made the following statement on the subject:
“We have not one, but multiple files before us, I think eight or ten, and they are evaluated by the staff and ultimately by the Commission.”
He also stated that when an asset manager wants to take something public, those exchange-traded products must register with the SEC.
Gensler highlighted the role of the SEC's Division of Corporate Finance and Division of Trading and Markets in reviewing these applications. “This is a time-tested process that goes back decades. The SEC staff, it's called the Disclosure Review Team, they respond and provide feedback to potential issuers in this group,” Gensler said.
*This is not investment advice.