SEC Chair Gary Gensler Provides Update On Bitcoin ETFs, Cautions Investors On Crypto: 'There Is A Lot Of Noncompliance'
Portfolio Pulse from Erica Kollmann
SEC Chair Gary Gensler discussed the review process for spot Bitcoin ETF applications on CNBC, mentioning recent meetings with Blackrock and Fidelity. While the SEC is reconsidering applications due to court rulings, Gensler warned of noncompliance in the crypto space. Bitcoin's price remains high amid investor optimism for potential ETF approvals, expected between Jan. 5 and Jan. 10, 2024.
December 14, 2023 | 6:36 pm
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POSITIVE IMPACT
Blackrock met with SEC regarding its spot Bitcoin ETF application, indicating progress in the review process.
The meeting between Blackrock and the SEC suggests that there is movement in the review process for their Bitcoin ETF application, which could be seen positively by investors. However, the cautionary tone from the SEC may temper some of the optimism.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Fidelity's engagement with the SEC on its Bitcoin ETF application may signal a potential advancement in the approval process.
Fidelity's discussion with the SEC is a sign that the ETF application is being actively considered, which could lead to positive investor sentiment. However, the general warnings about the crypto market from the SEC could introduce some caution among investors.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70