Throw in the towel Gary! No need to introduce the very anti-crypto Gary Genslerpresident of the Securities and Exchange Commission (DRY), such its open war against the digital assets sector is sadly known. Barely 48 hours before the decision of its Commission on a Spot Bitcoin ETFthe head of the SEC once again came out to criticize crypto-assets, discourage investing in them, and prevent risks of high volatility. Will he (finally!) to sell on ETFs spot BTC?
Does Gary Gensler want to disgust investors before a Bitcoin ETF?
This January 10, 2024, not only the cryptosphere, but the entire financial community – and especially the institutional investors, eager to invest more directly in Bitcoin – are desperately waiting for the Securities and Exchange Commission finally deigns to give her decision on ARK Invest’s Bitcoin Spot Exchange Traded Fund, the ARK 21Shares Bitcoin ETF.
It is, in fact, the final date, the deadlineto which the SEC must give approval (or not) to this ETF spot of BTC. She will have, as usual, makes you wait until the last second. It is in this context that Gary Gensler came to release a new insult further diatribe against the young cryptocurrency market and its players.
“(…) Some things to keep in mind if you are considering investing in crypto-assets:
Those offering investments/services in crypto assets may not be in compliance with applicable laws [ndlr : Coinbase demande des règles claires à la SEC depuis des années]including federal securities laws (securities). Investors in crypto-assets securities must understand that they may be deprived of key information and other important protections in relation to their investment. »
The president of the SEC denounces the volatility of cryptos: the arsonist firefighter
While the United States Securities and Exchange Commission itself generated a gigantic tension on the cryptocurrency market – in systematically refusing since 2021 to approve a Bitcoin spot ETF – Gary Gensler is also coming criticize volatility in this emerging financial sector.
And like many greats financial (International Monetary Fund,…) and of bankers central or supranational banks (Bank for International Settlements,…), regulator Gary Gensler only has the word “risk” at the mouth regarding the Bitcoin sector:
“Investments in cryptoassets can also be exceptionally risky and are often volatile. A number of major platforms and cryptoassets have become insolvent and/or lost value. Investments in cryptoassets continue to be subject to significant risks. »
We understand Gary, thank you. Now we are responsible adults and not children. And if institutional investorsof the asset management giants like BlackRock, Fidelity and many others, and even more and more big banks (like UBS)are eagerly looking for a spot Bitcoin ETF (with real BTC in underlying), it is perhaps that these professionals understood theincredible potential of the invention of Satoshi Nakamoto.