Daily Flash | Crypto Twitter Turns to Greyscales Spot BTC ETF As SEC Gensler Affirms Bitcoin Commodity Status

Today's Headline - Crypto Twitter reacts after SEC’s Gensler Asserts BTC’s commodity status

SEC Chairman Gary Gensler stirred up Crypto Twitter on Monday after asserting that Bitcoin (BTC) is a commodity. Questions were raised about its effects on Grayscales’ proposed Bitcoin ETF and why Ethereum has not been mentioned.

In his original remarks in response to why he thinks Bitcoin is the “only one,”

“Some, like Bitcoin — and that's the only one I'm going to say because I'm not going to talk about any one of these tokens, but my predecessors and others have said they’re a commodity.”

Gensler’s views on Bitcoin have been seen as a positive for Bitcoin. The remarks stirred up chatter about Grayscale’s application to convert its Bitcoin Trust into a spot-based exchange-traded fund (ETF) — which is expecting a decision from the SEC on July 6.

Chart of the Day - US home prices at alert level

Influencer of the Day - Pussy Riot vs. UkraineDAO

Russian political activist, Nadya Tolokonnikova, a founding member of "conceptual protest art group" Pussy Riot, took to Twitter on Saturday to accuse fellow activist and UkraineDAO founder Alona Shevchenko of turning "rogue" as a fellow Ukrainian.

In Shevchenko's defense, she said she had the full support from the Ukrainian government about how the crisis-fundraising DAO was being managed. She also said she used $5,000 to pay her rent and remain free from the influence of sponsors. At several points, things also got a little personal.

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Author: Gate.io Researcher Peter L.
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