Approval brings mass exposure to asset’s performance but less likely to improve crypto prospects The US Securities and Exchange Commission has – after more than five years of spirited resistance – approved applications for spot bitcoin exchange-traded products. The SEC’s statement on the matter is not exactly gracious. Gary Gensler, chair of the SEC, highlighted that the substance of the approved applications is similar to those the SEC has disapproved in the past. However, the US court of appeals said in August 2023 that the SEC had failed to adequately explain its reasoning in disapproving Grayscale’s application. ... (full story)