SEC Approves Bitcoin Spot ETFs But Remains Wary of Crypto
• SEC approved spot Bitcoin ETFs, but Chairman Gary Gensler still skeptical of crypto and emphasizes Bitcoin itself was not endorsed
• Gensler said Bitcoin is volatile, tied to illicit activity like money laundering and ransomware
• Approvals driven by court ruling that called SEC "arbitrary and capricious" for denying Grayscale spot Bitcoin ETF
• Crypto advocates cheered approvals, but senator Elizabeth Warren very critical, saying SEC flat out "wrong"
• Despite criticism, Gensler stands by decision but understands opposition perspective