The U.S. Securities and Exchange Commission is “taking a new look” at applications for a spot Bitcoin ETF, following October’s landmark court ruling on Grayscale’s application to convert its Grayscale Bitcoin Trust (GBTC) into an ETF.

In an interview with CNBC Thursday, Gensler said that the regulator is reviewing “between eight and a dozen filings.”

“We had in the past denied a number of these applications, but the courts here in the District of Columbia weighed in on that,” Gensler said. “And so we’re taking a new look at this based upon those court rulings.”

As the SEC chair, Gensler said, “I’m not to prejudge anything.” He went on to add that the commission works “within the laws Congress has passed and how the courts interpret them.”

Gensler went on to revisit a well-trodden furrow, calling the crypto space a “Wild West,” and highlighting crypto firms’ “noncompliance with the securities laws,” as well as “fraud and bad actors” in the space.

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Author: Stephen Graves

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