Gary Gensler, the head of the U.S. Securities and Exchange Commission (SEC), has announced his unwillingness to discuss the approval of applications for the creation of spot Bitcoin ETFs, as reported by The Block.

Gensler avoids specifying possible timelines for when decisions will be made regarding current applications. He also reaffirmed his position that Bitcoin should be considered a commodity. It's important to note that his concerns extend not only to individual products or projects in the crypto industry but to the entire sphere as a whole.

This is not the first time that the chairman of the SEC has expressed such views. In October 2023, Gary Gensler made similar statements.

Gensler claims that the process of reviewing license applications is a reliable and time-tested process. He also emphasizes that SEC employees have years of experience in this field and possess high qualifications.

In addition to spot Bitcoin ETFs, Gensler was asked about the advice he can give to crypto investors and those interested in this industry. He emphasized the need for caution and diligence for such individuals.

On November 20, 2023, representatives from BlackRock and Nasdaq met with SEC representatives to discuss the issue of spot Bitcoin ETFs. During the meeting, the redemption model for iShares Bitcoin Trust fund shares was discussed.

On the same day, representatives of Grayscale Investments also held a meeting with SEC employees to discuss their application for a spot Bitcoin ETF.