SEC Could Deny All Pending Spot Bitcoin ETFs at Once, Triggering Backlash
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SEC Chair Gary Gensler could potentially deny all pending spot Bitcoin ETF applications at once in a "rug pull."
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Bloomberg ETF analysts say this scenario is unlikely but can't fully rule it out.
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A last-minute blanket denial of applications could trigger lawsuits against the SEC.
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Gensler has repeatedly delayed or rejected spot Bitcoin ETFs over concerns about investor protection.
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The SEC has approved futures-based Bitcoin/Ether ETFs but not spot crypto ETFs, despite growing pressure.