SPOT BITCOIN ETF WILL BE APPROVED SOON Lawmakers in the US House of Representatives are demanding that Gensler (the head of the SEC) immediately approve the placement of a Bitcoin ETF. The four lawmakers told Gensler there was “no reason to continue to deny” spot applications for cryptocurrency ETFs following the Grayscale ruling, which ruled that the SEC’s reasoning was “arbitrary and capricious” due to already approved investment vehicles tied to bitcoin futures.