Cameron Winklevoss, co-founder of crypto exchange Gemini, has criticized the Securities and Exchange Commission (SEC) for its failure to approve a spot Bitcoin ETF. Winklevoss called the SEC’s inaction on this matter a “complete and utter disaster” for US investors and accused the agency of being a failed regulator. He noted that it has been a decade since the SEC received the first Bitcoin ETF application, which was subsequently rejected. According to Winklevoss, the lack of options for spot Bitcoin ETFs has led investors to seek exposure through other means, including unregulated platforms. He called on the SEC to reflect on its record and focus on its duties. Winklevoss also praised those working to bring spot Bitcoin ETFs to the US market.

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