U.S. Securities and Exchange Commission (SEC) chairman Gary Gensler seems to have closed the door on Ether ETFs for now. While answering journalists' questions at a media meeting yesterday, Gensler also made important statements about cryptocurrencies.
"It was just for Bitcoin"
When asked if Bitcoin spot ETF approvals will also come for Ether ETFs, Gensler said that this is true for Bitcoin, which is a commodity:
"As I said 2 weeks ago, the decision we made regarding Bitcoin ETFs was valid for this cryptocurrency, which is a commodity and not a security. There's no need to get anything else out of it."
"It was in favor of investors"
Gensler also said that thanks to Bitcoin ETFs, investors have found a more reliable environment:
"They are now listed on stock exchanges instead of over-the-counter exchanges. 11 ETFs were listed. This situation also created a competition. Thanks to this competition, investors are able to trade at much cheaper commissions. It was a situation that was in favor of the investors."
"Token issuers do not provide the necessary information"
Gensler, who also received questions about crypto lawsuits, also criticized the companies he is suing without naming them and said, "We want investors who want to invest in crypto securities to be better informed. Companies do not provide investors with the necessary and sufficient information. Because these token issuing companies are not subject to SEC rules."
Published: January 25, 2024 08:54
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Gary Gensler speaks negatively about Ether ETFs
U.S. Securities and Exchange Commission (SEC) chairman Gary Gensler seems to have closed the door on Ether ETFs for now. While answering journalists' questions at a media meeting yesterday, Gensler also made important statements about cryptocurrencies.
"It was just for Bitcoin"
When asked if Bitcoin spot ETF approvals will also come for Ether ETFs, Gensler said that this is true for Bitcoin, which is a commodity:
"As I said 2 weeks ago, the decision we made regarding Bitcoin ETFs was valid for this cryptocurrency, which is a commodity and not a security. There's no need to get anything else out of it."
"It was in favor of investors"
Gensler also said that thanks to Bitcoin ETFs, investors have found a more reliable environment:
"They are now listed on stock exchanges instead of over-the-counter exchanges. 11 ETFs were listed. This situation also created a competition. Thanks to this competition, investors are able to trade at much cheaper commissions. It was a situation that was in favor of the investors."
"Token issuers do not provide the necessary information"
Gensler, who also received questions about crypto lawsuits, also criticized the companies he is suing without naming them and said, "We want investors who want to invest in crypto securities to be better informed. Companies do not provide investors with the necessary and sufficient information. Because these token issuing companies are not subject to SEC rules."
Published: January 25, 2024 08:54