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SEC receives diverse comments on proposed spot bitcoin ETFs

The SEC has received letters from a diverse group of individuals, including a musician, former cricket player, city planner, mechanic, and physicist, regarding eight applications for spot bitcoin ETFs currently under review. The regulator has an initial 45-day period to rule on the proposals, although it can delay that period as it did for an earlier request. While the excitement over the possibility of a spot fund triggered a rally in the price of bitcoin, SEC Chair Gary Gensler has repeated concerns about fraud and manipulation in the sector. The comment period for the proposed funds ends next week, with the SEC accepting letters for the final funds through Aug. 11.

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