Republican and Democratic senators such as Tom Emmer and Mike Flood wrote to Gary Gensler, Chairman of the U.S. Securities and Exchange Commission, on September 27, asking him to “immediately approve a spot Bitcoin ETF.” According to the letter, Democrat Wiley Nickel urged Gensler to allow these listings, arguing that a regulated spot Bitcoin ETF would enhance investor protection by making access to Bitcoin more transparent and secure.
In the letter, the lawmakers stated that there is no difference between spot Bitcoin ETPs and Bitcoin futures ETPs. Therefore, the SEC‘s current position is untenable.
