U.S. SEC Chairman: Will reassess Bitcoin spot ETF applications based on recent court ruling

ChainCatcher News, Gary Gensler, chairman of the U.S. Securities and Exchange Commission (SEC), stated in an interview with CNBC on Thursday that the agency's "new perspective" on Bitcoin spot ETF applications takes into account recent court rulings.

Gensler said, "We have previously rejected some of these applications, but the D.C. Circuit Court has weighed in on this. Therefore, we are re-evaluating the issue based on the court's ruling."

In August of this year, three judges from the U.S. Court of Appeals for the D.C. Circuit ruled that the SEC must re-examine Grayscale's application to convert its Bitcoin spot ETF. Last year, Grayscale sued the SEC after its conversion plan for its flagship fund GBTC was rejected. The court specifically pointed out the SEC's differential treatment of Bitcoin spot ETFs and futures ETFs.