Bitcoin ETFs: Analysts Predict Epic Gensler 'Rugpull' or Potential $50K 'Rocket Ship'

Bloomberg ETF analysts speculate that SEC Chair Gary Gensler may be waiting to deny pending spot Bitcoin ETF applications all at once in a "semi-comedic rug-pull." While unlikely, the analysts acknowledge the possibility of a last-minute denial, which could trigger a wave of lawsuits. Gensler's previous actions and statements regarding spot Bitcoin ETFs have raised concerns about inconsistent SEC positions and investor protections. The SEC has a history of denying spot Bitcoin ETF applications, and Gensler's tenure has continued this trend. The SEC has only approved ETF applications for Bitcoin and Ether futures products, citing concerns about market manipulation.