SEC Begins to Review Bitcoin ETF Proposals Under New Chief Gary Gensler

Published April 23, 2021 | Updated April 23, 2021

Gary Gensler New SEC lead
Gary Gensler may be New SEC lead

SEC Begins to Review Bitcoin ETF Proposals Under New Chief Gary Gensler

2021 is the year when Bitcoin ETFs may be a reality as many noted firms like Grayscale, Galaxy Digital, Kryptonian, VanEck etc. are already competing for First Bitcoin ETF in US. It is notable that SEC is on a timeline and is expected to reply with yes or no by first week of May to VanEck’s Bitcoin ETF Proposal. In a notice uploaded on SEC website dated 22nd April, 2021, SEC has already started looking into Krptonian Bitcoin ETF application.

Can Gary Gensler Finally Make Bitcoin ETF A Reality?

Bitcoin ETF applications are not new to SEC as over the years they have rejected multiple Bitcoin ETF applications. While this year, SEC is operating under leadership of newly appointed chief Gary Gensler and crypto community is expecting positive results.

Gary is pro crypto and hails from a background of strong cryptocurrency understanding as he has taught crypto courses at MIT. He is also a noted admirer of Blockchain technology and believes in cryptocurrencies as useful financial instruments.

SEC commissioner Hester Pierce has already confirmed that Bitcoin ETF will get a fresh look under Mr. Gensler’s leadership. Speaking to FOX she accepted that Canada is already leading way in Bitcoin ETF market and said,

“Frankly, Canada is ahead of us now, they not only have bitcoin exchange-traded products, but they have exchange-traded products based on Ether.”

It is to be noted that Ethereum is is currently the second-largest crypto-asset behind bitcoin with a market cap of nearly $300 billion, as tracked by Coindesk.

Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
Sunil is a serial entrepreneur and has been working in blockchain and cryptocurrency space for 2 years now. Previously he co-founded Govt. of India supported startup InThinks and is currently Chief Editor at Coingape and CEO at SquadX, a fintech startup. He has published more than 100 articles on cryptocurrency and blockchain and has assisted a number of ICO's in their success. He has co-designed blockchain development industrial training and has hosted many interviews in past. Follow him on Twitter at @sharmasunil8114 and reach out to him at sunil (at) coingape.com
Sunil Sharma 182 Articles
Sunil is a serial entrepreneur and has been working in blockchain and cryptocurrency space for 2 years now. Previously he co-founded Govt. of India supported startup InThinks and is currently Chief Editor at Coingape and CEO at SquadX, a fintech startup. He has published more than 100 articles on cryptocurrency and blockchain and has assisted a number of ICO's in their success. He has co-designed blockchain development industrial training and has hosted many interviews in past. Follow him on Twitter at @sharmasunil8114 and reach out to him at sunil (at) coingape.com
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