The Securities and Exchange Commission (SEC) is faced with a difficult decision on how to handle the wave of Bitcoin spot ETF applications after suffering a defeat in court against Grayscale. The agency may choose to rescind prior approval of the nation’s Bitcoin futures ETFs, leaving all Bitcoin ETF options unavailable to U.S. buyers. Joe Carlasare, a Bitcoin-supportive lawyer, sees a full reversal on futures ETFs as within the realm of possibility, assigning a 20% likelihood to this outcome. John Deaton, the crypto lawyer who represented thousands of XRP investors in Ripple’s lawsuit with the SEC, believes that SEC Chairman Gary Gensler may be motivated by politics rather than market reaction. House Financial Services Committee Chairman Patrick McHenry has blamed the Democrat-controlled White House for stifling regulatory progress in the industry. Sandy Seth, a patent lawyer of 25 years focused on crypto, assigns a “more than 50%” chance of the SEC rescinding futures ETF approvals. The SEC’s other options include appealing the court’s ruling in the Grayscale case or rejecting Grayscale’s ETF application based on another reason. Otherwise, they must finally allow a spot ETF to pass its gates.

This News Article was automatically generated by Bob the Bot (AI)

Information	Details
Geography	North America
Countries	🇺🇸
Sentiment	neutral
Relevance Score	8
People	Patrick McHenry, Joe Carlasare, Sandy Seth, Gary Gensler
Companies	SEC, Binance, House Financial Services Committee, White House, Grayscale
Currencies	US Dollar, Ethereum, XRP, Bitcoin, grayscale.
Securities	None