And a lot of crypto tokens — I won’t call them cryptocurrencies for this moment — are indeed securities,” he said.
Elaborating on Bitcoin specifically, Gensler expressed his concerns about the lack of protections for investors: “It’s a digital, scarce store of value, but highly volatile.
“Investors should understand that Bitcoin, including gaining exposure through the Bitcoin futures market, is a highly speculative investment.
ETF Trends director of research Dave Nadig told Bloomberg about the comments: “There’s zero chance any existing filing goes through with no modifications whatsoever.