US lawmakers name on SEC chair to approve spot Bitcoin ETFs ‘instantly’

4 members of the USA Congress are requesting Securities and Change Fee Chair Gary Gensler “instantly” approve the itemizing of spot (BTC) exchange-traded funds, or ETFs.

In a Sept. 26 letter to Gensler, U.S. Representatives Mike Flood, Wiley Nickel, Tom Emmer and Ritchie Torres claimed the SEC was “discriminat[ing] towards spot bitcoin trade traded merchandise,” citing the authorized precedent set by Grayscale Investments in profitable a evaluate of its personal ETF providing. The 4 lawmakers informed Gensler there was “no purpose to proceed to disclaim” spot crypto ETF purposes following the Grayscale courtroom choice, which dominated the SEC’s reasoning was “arbitrary and capricious” in having already accredited funding autos tied to Bitcoin futures.

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