SEC Chair Gary Gensler has not revealed any plans for spot bitcoin exchange traded funds (ETFs) after the courts ruled that the SEC must withdraw its objection to Grayscale Investments’ ETF application. Gensler stated that the agency’s staff will make recommendations to the commission before any decision is made. He also declined to comment on other court cases being pursued against crypto firms. During a speech at a Securities Enforcement Forum event, Gensler criticized the crypto industry for non-compliance and stated that crypto represents a small fraction of the capital markets. The outcome of the court order regarding Grayscale’s application will also impact other major financial firms such as Fidelity and BlackRock.
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