The CEO of cryptocurrency exchange BitGo, Mike Belshe, has weighed in on the issue of spot Bitcoin exchange-traded fund (ETF) applications pending with the United States Securities and Exchange Commission (SEC). 

In a Nov. 16 [interview](https://youtu.be/TAjWw5l6Uys?si=elFF7a80qCJTUNnL) with Bloomberg, Belshe said that based on discussions between firms with pending applications and the SEC, it appears the approval is at hand. However, he also said that improving the market structure is necessary before approval.

According to him, “Gary Gensler’s made no secret of this point. We have to separate exchanges from custody.” Gensler is the current chairperson of the SEC. 

Until then, Belshe said there could be more ETF rejections. 

There are currently 12 firms waiting for the SEC’s decision on Bitcoin ETF applications. Optimism over the potential approval has led to positive price changes for bitcoin. According to data, bitcoin’s price is in the range of 18-month highs.

But there could be more rejections ahead. 


Sun Nov 19 2023 BitGo CEO Says Bitcoin ETF Approval is Near

Sun Nov 19 2023

BitGo CEO Says Bitcoin ETF Approval is Near