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Gary Gensler’s Bitcoin ETF position is ‘inconsistent’… says Gary Gensler

– In a resurfaced video from 2019, Gary Gensler criticizes the U.S. securities regulator for its inconsistent approach to spot Bitcoin products.
– The video clip shows Gensler discussing blockchain regulation at the 2019 MIT Bitcoin Expo.
– Gensler expresses his belief that Bitcoin futures and Ethereum futures exist, but Bitcoin ETFs do not, which he finds inconsistent.
– The crypto community on Twitter highlighted the contrast between Gensler’s previous views and his current stance on spot Bitcoin ETFs.
– To date, the SEC has only approved Bitcoin and Ethereum futures ETFs.
– The SEC has a history of rejecting spot Bitcoin ETF applications, a trend that continues under Gensler’s leadership.
– Gensler’s SEC was sued by Grayscale for rejecting its bid to convert its existing Bitcoin trust into a spot ETF.
– A court ruled that the SEC was arbitrary and capricious in its rejection, but the SEC did not appeal the decision.

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