Joe Saluzzi, co-founder of Themis Trading, criticized SEC Chairman Gary Gensler for approving spot Bitcoin ETFs, suggesting he should have resisted the pressure from the crypto industry. Saluzzi believes this decision, which followed the approval of Bitcoin futures ETFs, sets a risky precedent and gives unwarranted legitimacy to cryptocurrencies. He also mentioned the BlackRock application for options trading on its iShares Bitcoin Trust (IBIT) shares and expressed concerns over the lack of market surveillance. Saluzzi also commented on Vanguard's decision not to offer Bitcoin ETFs and the Federal Reserve's potential rate cuts.