SEC Chairman Gary Gensler has warned investors about the risks of cryptocurrencies but some interpret these statements as a sign of imminent ETF approvals.
A “golden cross” has occurred in the crypto market, indicating a potential bullish trend.
Lower proposed management fees from ETF applicants signal competition and possible approval.
Two CEOs Predict Imminent ETF Approval
In a CNBC interview, VanEck CEO Jan van Eck indicated their spot Bitcoin ETF could start trading on Thursday morning. Valkyrie co-founder Steven McClurg expects the SEC to deem the ETFs effective by Wednesday, allowing trading to begin the next day.
SEC Chairman Warns of Crypto Risks
While Gensler’s posts cautioned investors, some interpreted them as hints towards potential spot Bitcoin ETF approvals.