On the eve of his scheduled appearance before the House Financial Services Committee, four members of that panel sent Gensler a letter contending that a spot bitcoin ETF is “indistinguishable” from the crypto futures ETFs for which the agency has already granted its blessing. Because of that, the agency should sign off on applicants requesting SEC approval, such as Fidelity, BlackRock’s iShares and Grayscale Investments, which shares CoinDesk’s parent company, Digital Currency Group.
“The SEC’s current posture is untenable moving forward,” said the letter from Reps. Mike Flood (R-Neb.), Tom Emmer (R-Minn.), Wiley Nickel (D-N.C.) and Ritchie Torres (D-N.Y.). “Following the Court of Appeals’ decision, there is no reason to continue to deny such applications under inconsistent and discriminatory standards.”
Source: U.S. House Lawmakers Push SEC’s Gensler to Approve Spot Bitcoin ETF ‘Immediately’
