As Gary Gensler’s departure from the Securities and Exchange Commission looms, a surge of applications for the approval of cryptocurrency exchange-traded funds (ETFs) has been witnessed.
The imminent exit of Gensler, who has been an advocate for stricter regulation of the crypto industry, has sparked excitement among companies looking to launch crypto ETFs.
Since Gensler’s term is coming to an end, there is an expectation that the SEC may become more receptive to cryptocurrency-related products such as ETFs.
Several firms have taken advantage of this anticipated shift in regulatory stance by submitting requests for approval of their crypto ETFs.
This wave of ETF submissions signals a growing interest in cryptocurrency investments and the potential for mainstream adoption of digital assets.
With Gensler stepping down, the crypto industry is poised for a new chapter with potentially more favorable regulatory conditions for ETFs and other crypto products.
