News View Non-AMP

Spot Bonk ETF on the Cards? Here’s What SEC Chair Gary Gensler Says

Published by
Mustafa Mulla

In a recent live television appearance, United States Securities and Exchange Commission (SEC) Chair Gary Gensler once again criticized the crypto industry, but this time, his tone was noticeably softer when discussing the potential for future crypto ETFs.

Here’s what you should know.

Future of Crypto ETFs: Is the SEC Coming Around?

During an interview on CNBC’s “Mad Money,” host Jim Cramer asked Gensler about the chances of introducing ETFs for other cryptocurrencies. Cramer highlighted coins like Polkadot, Cardano, Cosmos, Bonk, Osmosis, and Ronin, which had traded millions of dollars that morning.

Cramer remarked on the high trading volumes, saying, “I would think that Bonk is a natural, and Osmosis. These are millions of dollars these things are trading – shouldn’t we have some sort of product?”

Gensler’s Response

When asked about the possibility of a BONK ETF, Gensler avoided a direct answer. He pointed out that many crypto tokens lack the necessary information for investors to make informed decisions, suggesting these tokens are unregistered securities. He emphasized the need for proper regulation to protect against fraud and manipulation in the crypto market.

“You might have seen the bankruptcies in this space, with the most prominent figures in this field either in jail, about to go to jail, or awaiting extradition.”

Gary Gensler

Gensler also criticized crypto exchange platforms for engaging in practices that would be unacceptable on traditional stock exchanges like the New York Stock Exchange. This statement underscored his concerns about the industry’s current regulatory framework.

Any Hope for Ethereum ETFs?

Addressing the recent Ethereum spot ETF approvals, Gensler stated that it would take time before their registration statements are approved and they can be listed on public exchanges.

This cautious optimism suggests that with the right regulations, a broader range of cryptocurrency ETFs could be on the horizon, starting with Ethereum.

An Urgent Call for Transparency

Despite his criticisms, Gensler’s softened tone indicates a possible future where more crypto ETFs could be approved, provided the market sees significant improvements in transparency and oversight. He made it clear that the crypto market needs substantial regulatory advancements before it can be considered on par with traditional financial markets.

Read Also: New Law Empowers U.S. President to Block Crypto Transactions

Mustafa Mulla

Mustafa has been writing about Blockchain and crypto since many years. He has previous trading experience and has been working in the Fintech industry since 2017.

Recent Posts

House Committee Approves STABLE Act – What’s Next for Crypto?

Following a 13-hour debate, the U.S. House Financial Services Committee has passed the STABLE Act…

April 3, 2025

Trump’s Tariff ‘Liberation Day’ SHOCKS the World – Bitcoin Ready to Explode?

Yesterday, the US government imposed reciprocal tariffs on some of its prominent trade partners, including…

April 3, 2025

XRP Ripple News: RLUSD Minting Hits $100M As Demand Soars

Ripple USD (RLUSD) has seen a huge boost, with over $100 million issued since April…

April 3, 2025

EOS, Story, & Litecoin Surge As Markets Consolidate—Here’s What’s Next for These Altcoins

Since the inauguration of the new president of the US, the markets have remained highly…

April 3, 2025

Top 10 Solana Blockchain APIs for Developers

With the introduction of easy memecoin generation, Solana took off last January post pumpfun launch…

April 3, 2025

U.S. House Passes STABLE Act: Trump’s Stablecoin Ties Spark Debate

The U.S. House Financial Services Committee has pushed forward the STABLE Act, a major step…

April 3, 2025