In an interview with Bloomberg TV on Wednesday, SEC Chairman Gary Gensler acknowledged that the SEC is evaluating multiple exchange product filings re
SEC's Gary Gensler emphasized that the approval timeline for Bitcoin ETF proposals is not clock-driven but relies on Commission discussions. Gensler said that the SEC is evaluating around eight to ten of exchange product filings related to Bitcoin 'to be in a security.' Grayscale Investments' case to convert its Bitcoin trust into an ETF could set a precedent for future approvals on Friday.
” The SEC chief underlined that sometimes it takes 15 to 19 months, a crucial reminder for those eagerly awaiting the introduction of Bitcoin ETFs. These Exchange Traded products need to register with the SEC, and they go through a filing somewhat similar to going public, like an IPO. And so it's really the work of our Division of Corporation Finance that gives feedback, or Division of Trading and Markets of course looks at the filings of the exchanges, Gensler added.
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