SEC Chair Gary Gensler Says While We Approved The Listing And Trading Of Certain Spot Bitcoin ETP Shares Wednesday, We Did Not Approve Or Endorse Bitcoin
Portfolio Pulse from Benzinga Newsdesk
SEC Chair Gary Gensler clarified that the SEC's approval for the listing and trading of certain spot Bitcoin ETP shares does not equate to an endorsement of Bitcoin itself.
January 10, 2024 | 9:47 pm
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NEUTRAL IMPACT
The SEC's approval of Bitcoin ETP shares may increase interest in Bitcoin-related assets, but Gensler's statement clarifies that this does not imply an endorsement of Bitcoin by the SEC.
While the SEC's approval of Bitcoin ETP shares could be seen as a positive step for the cryptocurrency market, Gary Gensler's clarification that this is not an endorsement of Bitcoin may temper expectations. This could lead to a neutral short-term impact on Bitcoin's price as the market digests the implications of the SEC's stance.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80