SEC Chair Gary Gensler has recently made several statements regarding the cryptocurrency market, emphasizing its speculative nature and potential risks. Gensler described Bitcoin as a "highly speculative asset" and likened it to a rollercoaster, highlighting its volatility and speculative asset class status. He also cautioned investors about the crypto market, indicating that thousands of crypto tokens might be considered securities. Despite these warnings, there is ongoing discussion about the regulatory approval and clarity for Bitcoin Spot ETF Options, with a noted battle between the SEC and CFTC over jurisdiction. Furthermore, Gensler discussed the possibility of green-lighting options for spot bitcoin ETFs and other exchange-traded products for digital currencies. He also pointed out that the crypto field is rife with abuses and fraud, as Bitcoin surges to a new all-time record.