According to CryptoPotato, Gary Gensler, the chairman of the US Securities and Exchange Commission (SEC), recently had a conversation with Jim Cramer, the host of CNBC's Mad Money. The discussion revolved around the SEC's approval of Bitcoin and Ethereum ETFs and the potential future of other cryptocurrencies, including obscure meme coins.
Cramer mentioned several coins that had traded millions of dollars on Wednesday morning, including Cardano, Cosmos, Immutable, Ronin, and MyNeighborAlice, among others. He also asked Gensler about the possibility of ETFs for SushiSwap (SUSHI) and Bonk (BONK). However, Gensler did not provide specific answers to these questions. Instead, he noted that many of these crypto tokens have not provided the necessary disclosures for making investment decisions, implying that they are unregistered securities.
Gensler also criticized crypto exchange platforms, stating that they are engaging in activities that would not be permitted on the New York Stock Exchange. He highlighted the risks associated with the crypto space, pointing out the bankruptcies and legal issues faced by some of its leading figures.
In addition, Gensler commented on the Ethereum spot ETF approvals that occurred late last month. He stated that it will still take some time before their registration statements are approved and they can be listed on public exchanges. When asked about the matter, the Head of Digital Assets at BlackRock stated that the fund had little interest in launching altcoin ETFs, with Bitcoin being the overwhelming top priority among its client base.