Gary Gensler, Chairman of the US Securities and Exchange Commission (SEC), remained silent when asked by reporters whether the industry would soon see a spot Bitcoin ETF. Gensler said he would not make a "prediction" about the matter, and previously stated that the agency's review process was a "time-tested process." In his speech on Wednesday, Gensler reiterated his position that Bitcoin is considered a commodity, while expressing concern about the entire crypto industry.