SEC's Crenshaw Opposes Bitcoin ETFs in Senate Hearing, Citing Fraud Concerns and Grayscale Ruling
Caroline Crenshaw, an SEC Commissioner, has been vocal in her opposition to Bitcoin spot ETFs, citing widespread fraud in the cryptocurrency market. In a recent Senate nomination hearing, she was questioned by Senator Hagerty about her stance, which appears to contradict a previous court ruling by the DC Circuit in January favoring Grayscale's Bitcoin ETF application. Crenshaw emphasized the need to make public interest findings on individual exchange-traded products (ETPs). Her concerns revolve around the potential risks these ETFs pose to U.S. retirement funds.
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