Spot Bitcoin ETFs Approved: The Crypto Industry Reacts

Ben Schiller

“If the SEC is anti-crypto, they have shot themselves in the head. If they had just quietly approved the Grayscale ETF application all those many years ago, there would be a few crypto ETFs out there without much fanfare. By delaying as long as they have, they are creating a lot more free publicity for crypto. Also, they appear to be consciously setting it up so that multiple ETFs will start trading at the same time. Whatever the reason, they are invoking the marketing might of the biggest behemoths on Wall Street to start peddling these ETFs. Expect to see lots of advertising pushing various crypto products. If the SEC doesn’t want Mr. and Mrs. Main St to invest their IRAs in crypto, the SEC chose exactly the wrong approach.”

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