SEC Chair Gary Gensler Was the Deciding Vote Approving Spot Bitcoin ETFs

The president of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, formed the deciding ballot approving 11 spot bitcoin exchange-traded funds (ETFs) successful a landmark determination connected Wednesday. Before the approvals, the securities regulator held a ballot connected spot bitcoin ETFs, with 2 commissioners favoring and 2 opposing. Gensler’s ballot tipped the scales successful favour of approval.

Gensler’s Vote Tips the Scales successful Favor of Spot Bitcoin ETF Approvals

Before approving spot bitcoin exchange-traded funds (ETFs) connected Wednesday, the U.S. Securities and Exchange Commission (SEC) held last votes connected the regularisation changes projected by NYSE Arca, Nasdaq, and Cboe BZX to database and commercialized the funds.

Two SEC commissioners, Hester Peirce and Mark Uyeda, voted for approval, portion Caroline Crenshaw and Jaime Lizárraga opposed it. The ballot divided astatine 2-2, with Gary Gensler casting the deciding ballot successful favour of approving spot bitcoin ETFs. Bloomberg expert James Seyffart commented connected Thursday:

For those that missed this item yesterday successful the frenzy. Gensler was the deciding ballot to get the bitcoin ETF implicit the enactment with a 3-2 vote.

The SEC approved 11 spot bitcoin ETFs for listing and trading connected NYSE Arca, Nasdaq, and Cboe BZX exchanges pursuing their voting session. The funds started trading Thursday morning.

The approved spot bitcoin ETFs are ARK 21shares Bitcoin ETF (ARKB), Fidelity Wise Origin Bitcoin Fund (FBTC), Franklin Bitcoin ETF (EZBC), Invesco Galaxy Bitcoin ETF (BTCO), Vaneck Bitcoin Trust (HODL), Wisdomtree Bitcoin Fund (BTCW), Bitwise Bitcoin Trust (BITB), Ishares Bitcoin Trust (IBIT), Valkyrie Bitcoin Fund (BRRR), Hashdex Bitcoin ETF (DEFI), and Grayscale Bitcoin Trust (GBTC).

Despite voting successful favour of approving spot bitcoin ETFs, Gensler issued a connection afterward clarifying that the support doesn’t mean the Commission has approved oregon endorsed bitcoin. Gensler continued to warn investors of the risks of investing successful crypto assets. He inactive views astir crypto tokens arsenic securities.

What bash you deliberation astir SEC Chairman Gary Gensler being the deciding ballot connected the support of 11 spot bitcoin ETFs? Let america cognize successful the comments conception below.