Latest US SEC Comments Mount Worries Of Gary Gensler Blocking Spot Bitcoin ETF
The latest quick additional comments to some spot Bitcoin ETF issuers’ S-1 submissions by the U.S. Securities and Exchange Commission (SEC) raising concerns in the crypto market, while people still hope for a spot Bitcoin ETF approval this week. The final deadline for the SEC to decide on Ark 21Shares spot Bitcoin ETF is on January 10, which will provide clear indications to the market.
Rising Worries On Gary Gensler Blocking Spot Bitcoin ETF
More amendments to the spot Bitcoin ETF applications are now expected as the U.S. SEC issued additional comments on pending spot Bitcoin ETF applicants’ S-1 forms.
Perianne Boring, President and founder of the Chamber of Digital Commerce, hopes she is wrong in her interpretation of the delay in spot Bitcoin ETF approval. However, she is more worried about SEC Chair Gary Gensler coming up with another way to block approvals. She claims that “SEC has more tools at its disposal to block spot bitcoin ETFs from coming to market. Chair Gensler doesn’t want to go down without a fight. I’m hoping for a successful launch this week.”
Earlier today, She noted the latest SEC comments as a delay signal from the agency. However, Bloomberg ETF analyst James Seyffart asserts that the issuance of additional comments is not necessarily a move to delay the ETF approval.
Commenting on the latest Perianne Boring’s post, James Seyffart said “This is nightmare fuel and the prospect of exactly this keeps me awake at night.”
Interestingly, experts have shared a caveat on how a 5-member SEC Commission could potentially delay spot Bitcoin ETF approval. Each commissioners including Gary Gensler, Caroline Crenshaw, Hester Peirce, Jaime Lizárraga, and Mark Uyeda have the right under 17 C.F.R. Section 201.431 to request a review and full commission vote even if a matter is assigned and approved via delegated authority.
Also Read: Spot Bitcoin ETF Unveiling Potential Premiums & Regulatory Hurdles Post Approval
John Deaton, attorney for 75,000 XRP holders, reacted to Gary Gensler’s latest X post for people investing in crypto assets. Deaton suggests crypto community to judge when reading anything from a transient regulator like Gensler regarding his biased views on crypto.
He again criticized Gensler for meeting Sam Bankman-Fried but denied to a private meeting with Coinbase CEO Brian Armstrong and CLO Paul Grewal.
Also Read: XRP Whale Moves 26 Mln XRP As Price Jumps Past $0.57
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