{"id":81116,"date":"2023-07-03T12:56:38","date_gmt":"2023-07-03T09:56:38","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=81116"},"modified":"2025-09-11T21:01:23","modified_gmt":"2025-09-11T18:01:23","slug":"cameron-winklevoss-calls-secs-rejection-of-spot-bitcoin-etfs-a-catastrophe","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/cameron-winklevoss-calls-secs-rejection-of-spot-bitcoin-etfs-a-catastrophe\/","title":{"rendered":"Cameron Winklevoss calls SEC&#8217;s rejection of spot Bitcoin ETFs a catastrophe"},"content":{"rendered":"<p>Gemini co-founder Cameron Winklevoss has criticized the U.S. Securities and Exchange Commission (SEC) for its rejection of spot Bitcoin <a href=\"https:\/\/forklog.com\/en\/news\/what-is-a-cryptocurrency-etf\">ETF<\/a>.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/Snimok-ekrana-2023-07-03-v-12.54.15.webp\" alt=\"Snimok-ekrana-2023-07-03-v-12.54.15\" class=\"wp-image-210633\"\/><figcaption class=\"wp-element-caption\">Data: <a href=\"https:\/\/twitter.com\/cameron\/status\/1675302282915610624?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1675302282915610624%7Ctwgr%5Eb2b21308ec3bcbeabd7944cbdae8cd6a340bfcb9%7Ctwcon%5Es1_&#038;ref_url=https%3A%2F%2Fdecrypt.co%2F147082%2Fsec-inaction-spot-bitcoin-etf-complete-disaster-cameron-winklevoss\">Twitter<\/a>.<\/figcaption><\/figure>\n<p>He said that in 2013 the co-founders of the trading platform first filed for a spot trust. The agency rejected it.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cThe rejection of approving these products for ten years is a complete and absolute catastrophe for American investors and demonstrates that the SEC is an incompetent regulator,\u201d said Winklevoss.<\/p>\n<\/blockquote>\n<p>According to him, the Commission\u2019s approach is pushing investors to use unlicensed venues to access spot ETFs tied to the first cryptocurrency.<\/p>\n<p>Cameron Winklevoss called Grayscale\u2019s Bitcoin Trust a \u201ctoxic product,\u201d and FTX one of \u201cthe largest financial frauds in modern history.\u201d He believes it is the agency that pushes investors toward their use.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cPerhaps the SEC will reflect on its poor track record and, instead of overstepping its legal powers and trying to act as a gatekeeper of economic life, focus on fulfilling its mandate to protect investors,\u201d wrote the Gemini co-founder.<\/p>\n<\/blockquote>\n<p>On June 30, the SEC <a href=\"https:\/\/forklog.com\/en\/news\/wsj-reports-sec-reaction-to-blackrock-and-fidelity-spot-bitcoin-etf-filings\">deemed<\/a> the spot Bitcoin ETF applications from BlackRock, Fidelity and others \u201cunclear and incomplete.\u201d After this, they <a href=\"https:\/\/forklog.com\/en\/news\/fidelity-and-others-amend-filings-for-bitcoin-etf-after-sec-reaction\">made<\/a> changes to their documentation.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cameron Winklevoss, cofounder of the cryptocurrency exchange Gemini, criticized the U.S. Securities and Exchange Commission (SEC) for not approving spot Bitcoin ETFs.<\/p>\n","protected":false},"author":1,"featured_media":81117,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[719,128,1211,1140],"class_list":["post-81116","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-gemini","tag-sec","tag-stock-market","tag-winklevoss-twins"],"aioseo_notices":[],"amp_enabled":true,"views":"15","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/81116","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=81116"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/81116\/revisions"}],"predecessor-version":[{"id":81118,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/81116\/revisions\/81118"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/81117"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=81116"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=81116"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=81116"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}