Bitcoin ETFs: From Approval to Trading and Costs Explained

Gary Gensler, the head of the U.S. Securities and Exchange Commission (SEC), reluctantly approved several spot bitcoin ETFs after facing pressure from the market and a court reprimand. Despite the approval, Gensler made it clear that it's not an endorsement of bitcoin and warned investors about the risks associated with crypto. The SEC's history of denying ETF applications may have inadvertently fueled demand for them, and Gensler's agency has faced legal setbacks in its regulation of the crypto industry. Additionally, the SEC's own cybersecurity incident and Gensler's controversial statements have further marred the agency's reputation in the crypto space.