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No Spot Bitcoin ETF for now

SEC Chair Gary Gensler addressed a letter to Minnesota Representative Tom Emmer last Tuesday saying that the regulatory body was no closer to approving a Bitcoin (BTC) spot ETF in the United States. “The SEC’s approach to cryptocurrency regulation has been unacceptable,” said Emmer in a November letter. “While the trading of Bitcoin futures ETFs is a great step forward for the millions of American investors who have been demanding regulatory clarity, it does not make sense that Bitcoin spot ETFs cannot also commence trading.”

ETF Newz Says: To date, the SEC has not approved any Bitcoin spot ETF application from a financial institution despite some lawmakers pressure. The commission has approved ETFs linked to BTC futures from Valkyrie, ProShares and VanEck.