In a recent CNBC interview, Gensler revealed that the SEC is currently evaluating "between eight and a dozen filings" for a spot Bitcoin ETF.

However, while addressing the submissions, he hinted at the SEC's track record of rejecting similar proposals in the past.

“We had in the past denied a number of these applications, but the courts here in the District of Columbia weighed in on that. And so we’re taking a new look at this based upon those court rulings.”

When questioned about whether he was specifically referring to the Grayscale decision, Gensler avoided a direct response, stating instead that the SEC operates "within the laws Congress has passed and how the courts interpret them."

In August, Grayscale achieved a victory over the regulatory body when a panel of judges agreed with the asset management firm, compelling the SEC to reevaluate its application to convert its Bitcoin trust (GBTC) into an ETF. While the SEC had the opportunity to challenge this decision, it chose not to.

Subsequently, the SEC reopened its review of the application. Since then, there have been discussions between the agency and the asset manager, as reported by Bloomberg's ETF analysts James Seyffart and Eric Balchunas

Grayscale has expressed it is "working collaboratively and expeditiously with the SEC" to secure the necessary regulatory approval.

If successful, a Grayscale ETF would be among other contenders aiming to launch a Bitcoin ETF. Even major asset managers like BlackRock are aiming to be among the early issuers.

Currently, there's significant optimism toward the ETF's prospects. Seyffart has offered a timeframe for a possible decision. The SEC's deadline for a decision on the joint proposal by Ark and 21Shares is January 10th, focusing attention on the days leading up to this deadline.

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