SEC Chair Gary Gensler continues to withhold comments regarding the future of spot Bitcoin BTC/USD exchange-traded fund (ETF).

What Happened: According to a report by The Block, Gensler did not provide any insights on the potential action of the SEC regarding pending applications for spot bitcoin ETFs during the Healthy Markets Association conference on Wednesday. He emphasized that he wouldn’t “pre-judge” the situation and reminded attendees of the SEC’s “time-tested process.”

Asset management giants, such as BlackRock Inc. and Fidelity Investments, have submitted several applications to introduce the first spot Bitcoin ETF.

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