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Patrick McHenry Criticized SEC Chair Gary Gensler US House FSC Republican Chairman Patrick McHenry earlier said he will closely watch the US SEC’s response to spot Bitcoin ETF filing by financial services giant BlackRock. advertisement Patrick McHenry said if the reports of the US SEC are true, then Gary Gensler has a lot to explain regarding the action. He urged the US SEC to look into a spot Bitcoin ETF, claiming that it will provide investors with a regulated product. In addition, he said the only reason behind rejecting it could be Gary Gensler wanting to kill crypto innovation in the US. However, the US SEC only informed Nasdaq and CBOE that they need to refile applications with respect to the “surveillance-sharing agreements” and spot Bitcoin exchange that would be used by BlackRock, Fidelity, and other asset managers. Recommended Articles ...

Bitcoin margin and futures markets display strength as institutional appetite surges after multiple spot ETF requests. After a failed rally above $31,000 on June 23, Bitcoin (BTC) has sustained the $30,300 resistance for the past three days. Curiously, this happened while gold reached its lowest level in three months, trading at $1,910 on June 22, down from a $2,050 peak in early May. Investors now question how solid Bitcoin’s $30,000 support is. So analyzing what caused the recent price rally is essential to understanding how traders are positioned on BTC margin and futures markets. Why did BTC price break above $30,000?  Some analysts attribute Bitcoin’s recent 21.5% gains in 11 days to BlackRock’s spot Bitcoin exchange-traded fund (ETF) filing. But other events might have fueled the cryptocurrency gains. For instance, on June 26, HSBC Bank in Hong Kong reportedly introduced its first local cryptocurrency services using three listed crypto ETFs. Moreover, the ProShares Bitcoin Strat...