According to CoinDesk, four nominees for the U.S. Securities and Exchange Commission (SEC) were questioned at a Senate Banking Committee confirmation hearing on Thursday. This included a questioning of SEC's Caroline Crenshaw about Bitcoin trading products. Crenshaw told senators that she was reluctant to approve Bitcoin exchange-traded products earlier this year due to rampant fraud in the crypto market. Crenshaw insisted on opposing these trading products, pointing out that these are not technically ETFs, but exchange-traded products (ETPs) that operate under different rules. She said that institutional approval of Bitcoin (BTC) products would "take us down a path that could further sacrifice investor protection." Crenshaw reiterated on Thursday that she felt she had to oppose it given the significant fraud and opacity in the spot market worldwide. She is worried that these products will flood the market and directly affect the retirement accounts of American families, who are the least able to afford to lose their savings due to fraud and manipulation in the spot Bitcoin market. Her agency is now approving Ethereum's Ether (ETH) trading products.