{"id":468304,"date":"2022-06-28T05:33:28","date_gmt":"2022-06-28T02:33:28","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/community-reacts-after-secs-gensler-affirms-btcs-commodity-status\/"},"modified":"2022-06-28T05:33:28","modified_gmt":"2022-06-28T02:33:28","slug":"community-reacts-after-secs-gensler-affirms-btcs-commodity-status","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/community-reacts-after-secs-gensler-affirms-btcs-commodity-status\/","title":{"rendered":"# Community reacts after SEC\u2019s Gensler affirms BTC\u2019s commodity status"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a38733c18dae\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a38733c18dae\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/community-reacts-after-secs-gensler-affirms-btcs-commodity-status\/#%E2%80%9D_Community_reacts_after_SECs_Gensler_affirms_BTCs_commodity_status_%E2%80%9C\" >&#8221; Community reacts after SEC\u2019s Gensler affirms BTC\u2019s commodity status &#8220;<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/community-reacts-after-secs-gensler-affirms-btcs-commodity-status\/#Grayscale_Bitcoin_ETF\" >Grayscale Bitcoin ETF<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/community-reacts-after-secs-gensler-affirms-btcs-commodity-status\/#No_mention_of_ETH\" >No mention of ETH<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/community-reacts-after-secs-gensler-affirms-btcs-commodity-status\/#Positive_for_Bitcoin\" >Positive for Bitcoin<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Community_reacts_after_SECs_Gensler_affirms_BTCs_commodity_status_%E2%80%9C\"><\/span>&#8221; Community reacts after SEC\u2019s Gensler affirms BTC\u2019s commodity status &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDYvMDczODZlM2ItYmRmZC00NTdiLTliZmUtOTkxMDI0MGNmODc3LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-2a0745c6>Securities and Exchange Commission Chairman Gary Gensler riled up Crypto <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> on Monday after affirming that Bitcoin (BTC) is a commodity. Questions were raised about its impact on Grayscales\u2019 proposed Bitcoin ETF and why Ethereum wasn\u2019t mentioned.<\/p>\n<p>Speaking to Jim Cramer on CNBC\u2019s Squawk Box on Monday, June 27, the SEC chair said while many crypto-financial assets have the key attribute of a security, Bitcoin is the \u201conly one\u201d that he was comfortable publicly labeling as a commodity. <\/p>\n<blockquote><p>\u201cSome, like Bitcoin \u2014 and that&#8217;s the only one I&#8217;m going to say because I&#8217;m not going to talk about any one of these tokens, but my predecessors and others have said they\u2019re a commodity.\u201d<\/p><\/blockquote>\n<h3><span class=\"ez-toc-section\" id=\"Grayscale_Bitcoin_ETF\"><\/span>Grayscale Bitcoin ETF<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The remarks kicked up chatter about Grayscale\u2019s <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>lication to convert its Bitcoin Trust into a spot-based exchange-traded fund (ETF) \u2014 which is expected to see a yes-or-no decision from the SEC on July 6. <\/p>\n<p>James Seyffart, an ETF analyst at Bloomberg Intelligence, told his 19,300 <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/JSeyff\/status\/1541425132203294723\">Twitter<\/a> followers that while Gensler\u2019s remarks are positive for Bitcoin, it may not be enough to see Grayscale\u2019s Bitcoin-spot ETF approved next week.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">This isn&#8217;t new from Gensler, but definitely positive IMO. Unfortunately this isn&#8217;t enough for approval of <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24GBTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$GBTC<\/a>&#8216;s conversion into a spot <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> ETF. Odds of SEC approval next week (or this week) are near zero in our opinion. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/mvRnkajGdd\">https:\/\/t.co\/mvRnkajGdd<\/a><\/p>\n<p>\u2014 James Seyffart (@JSeyff) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/JSeyff\/status\/1541425132203294723?ref_src=twsrc%5Etfw\">June 27, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Eric Balchunas, a senior ETF analyst at Bloomberg, made similar comments, noting he saw only a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/EricBalchunas\/status\/1541390308516167680\">0.5%<\/a> chance of Grayscale\u2019s GBTC being allowed to convert to an ETF.\u00a0<\/p>\n<h3><span class=\"ez-toc-section\" id=\"No_mention_of_ETH\"><\/span>No mention of ETH<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Crypto Twitter also picked up on the fact that Gensler refrained from mentioning whether he placed Ethereum (ETH) in the same commodities boat, despite the regulator and the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.cftc.gov\/\">Commodity Futures Trading Commission<\/a> (CTFC) previously agreeing that the asset was a commodity just like Bitcoin. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Any thoughts on why Gensler didn&#8217;t mention Ethereum as a commodity today? <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/GjN5so63O3\">https:\/\/t.co\/GjN5so63O3<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/ethereum?src=hash&amp;ref_src=twsrc%5Etfw\">#ethereum<\/a><\/p>\n<p>\u2014 swankyfinance.eth (@swankyfinance) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/swankyfinance\/status\/1541587200965365760?ref_src=twsrc%5Etfw\">June 28, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Positive_for_Bitcoin\"><\/span>Positive for Bitcoin<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Nevertheless, Gensler\u2019s views on Bitcoin have been seen as a positive for the king of crypto. <\/p>\n<p>Bitcoin bull Michael Saylor shared the video to his 2.5 million Twitter followers, adding that Bitcoin is essential as a treasury reserve asset, which will allow governments and institutions to support it as a digital asset to grow the economy.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> is a commodity, which is essential for any treasury reserve asset. This allows politicians, agencies, governments, &amp; institutions to support bitcoin as a <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a> &amp; digital asset to grow the economy and extend property rights &amp; freedom to all. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/b4WmdSRilb\">pic.twitter.com\/b4WmdSRilb<\/a><\/p>\n<p>\u2014 Michael Saylor\u26a1\ufe0f (@saylor) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/saylor\/status\/1541445901775945728?ref_src=twsrc%5Etfw\">June 27, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Meanwhile, Eric Weiss, founder of Blockchain Investment Group <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Eric_BIGfund\/status\/1541450661610528768\">noted<\/a> on Twitter that Gensler is the second SEC chair to declare Bitcoin a commodity, making it near impossible for this classification to be altered in the future.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Google users think BTC is dead \u2014 5 things to know in Bitcoin this week<\/em><\/strong><\/p>\n<p>Interestingly, the positive <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a> for Bitcoin resulted in another price decline, falling from a 24-hour high of $21,478 to $20,635 at the time of writing.<\/p>\n<p>Ethereum has fallen from a 24-hour high of $1,234 to $1,171 at the time of writing as the bears retain their grip on the markets. <\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/p>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/community-reacts-after-sec-s-gensler-affirms-btc-s-commodity-status\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Community reacts after SEC\u2019s Gensler affirms BTC\u2019s commodity status &#8220; Securities and Exchange Commission Chairman Gary Gensler riled up Crypto Twitter on Monday after affirming that Bitcoin (BTC) is a commodity. Questions were raised about its impact on Grayscales\u2019 proposed Bitcoin ETF and why Ethereum wasn\u2019t mentioned. Speaking to Jim Cramer on CNBC\u2019s Squawk&#8230;<\/p>\n","protected":false},"author":1,"featured_media":468305,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDYvMDczODZlM2ItYmRmZC00NTdiLTliZmUtOTkxMDI0MGNmODc3LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74891,74898,70934],"class_list":["post-468304","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-ethereum","tag-sec","tag-regulation"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/468304","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=468304"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/468304\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/468305"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=468304"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=468304"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=468304"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}