Will the SEC approve bitcoin exchange traded funds?

The SEC recently approved the listing of spot bitcoin exchange traded funds (ETFs). (Photo by Drew Angerer/Getty Images) Much of the chatter about the Securities and Exchange Commission’s long-awaited approval of bitcoin exchange-traded funds has revolved around how the SEC’s action will affect bitcoin’s price. But that’s the short-term story.

Should the SEC block bitcoin exchange traded funds?

The U.S. Securities and Exchange Commission (SEC) should listen to the courts and give up efforts to block bitcoin exchange traded funds (ETFs) from regulatory approval, a bipartisan group of lawmakers argued Tuesday in a letter to SEC Chair Gary Gensler.

Why did the SEC only approve spot bitcoin ETFs?

The Commission only approved spot bitcoin ETFs under the duress of a unanimous opinion, authored by Neomi Rao of the U.S. Court of Appeals for the D.C. Circuit, which described as “arbitrary and capricious” the SEC’s resistance to bitcoin ETFs, because the agency had approved nearly identical products for bitcoin futures and other commodities.