SEC Chair Gensler Hints at Rethinking Bitcoin ETFs Following Court Ruling

SEC chair Gary Gensler hinted in an interview that the SEC has been rethinking its approach to spot Bitcoin ETFs following a recent court ruling in favor of Grayscale's Bitcoin trust. Gensler said the SEC currently has "between eight and a dozen filings" for spot Bitcoin ETF applications going through the review process. In the past, the SEC had denied many similar applications. When asked if he was referring specifically to the Grayscale court ruling, Gensler did not confirm or deny, but said the SEC reviews all cases "within the laws Congress has passed and how the courts interpret them." It remains unclear if or when the SEC may approve the first spot Bitcoin ETF.