SEC Chairman Gensler votes in favor of approving Bitcoin ETF | CoinDesk JAPAN

U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler is among the five committee members who made the first-ever spot Bitcoin (BTC) exchange-traded fund (ETF) a reality. was included in the three people.

Gensler was one of three people to approve the application, along with Commissioners Hester Peirce and Mark Uyeda, according to the commission’s vote results posted on the SEC’s website. Ta. Commissioners Caroline Crenshaw and Jaime Lizárraga voted against it.

While Peirce is known as a supporter of the crypto industry, Gensler has been publicly negative and skeptical of the market, citing customer protection and fraud as the main risks plaguing the industry. He has not changed his attitude.

(SEC)

In his first comments after being approved on the 10th, Gensler highlighted the SEC’s negative stance on Bitcoin, and said he would not be able to sell a Bitcoin ETF in 2022 after losing in court over the denial of Grayscale’s application. He said he had no choice but to approve.

“We do not endorse or recommend Bitcoin,” he said. “Investors should remain cautious about the myriad risks associated with Bitcoin and products that peg their value to crypto assets.”

In a separate statement, Crenshaw, who disapproved of the application, said the decision “puts us on a path that could further compromise investor protections.”

Approved providers include financial giants BlackRock and Fidelity, and crypto-native fund Grayscale’s Bitcoin Trust (GBTC) has also been upgraded as an ETF. Ta. Fees for these products range from “zero for the first few months” at ARK, Bitwise and Invesco to 1.5% at Grayscale.

｜Translation: CoinDesk JAPAN
｜Edited by: Toshihiko Inoue
｜Image: Jesse Hamilton/CoinDesk
｜Original text: Gary Gensler Voted to Approve Bitcoin ETFs, Despite Public Criticism