BTC Price Index and Live Chart – CoinDesk”>(BTC) exchange-traded fund (ETF) a reality.

A notice of the SEC’s votes shows that Gensler was one of the three commissioners who approved the filings. The other two were Hester Peirce, and Mark Uyeda. Caroline Crenshaw, Jaime Lizarraga and Mark Uyeda were the three commissioners who voted against these plans.

Peirce, who is well-known for his support of the cryptocurrency market, has publicly dismissed the industry and remained sceptical, citing fraud and customer protection as the main risks.

Gensler’s comments following the approvals on Wednesday reinforced the SEC’s negative stance towards bitcoin. He stated that after losing in court in rejecting Grayscale’s ETF in 2022, the regulator had no choice but to approve more than 12 bitcoin ETFs.

Gensler stated that “we did not endorse or approve bitcoin.” Investors should be cautious of the risks that are associated with Bitcoin and other products whose value depends on crypto.

Crenshaw said in a second statement that he disapproved of these filings and the decision “put us on a path which could further sacrifice the investor protection”.

BlackRock (BLK), Fidelity and Grayscale, a crypto native fund, have all been approved as providers. Grayscale’s Bitcoin Trust (GBTC) is also now listed as an ETF. These products have fees that range from zero in the first few weeks (at Bitwise, Invesco and ARK) to up to 1.5% at Grayscale.

Parikshit Miishra is the editor.