Bloomberg ETF analyst James Seyffart has called for FOIA requests into the SEC’s approval of spot Ethereum ETFs. In a June 5 KITCO interview, Seyffart urged public searches for communications involving SEC Chair Gary Gensler to uncover the decision-making process.
Seyffart noted the SEC’s use of delegated authority for this approval, a rare move that obscures voting records. He suggested the decision might be politically motivated, possibly influenced by the Biden administration or a swing vote by a Democratic SEC commissioner.
Unique to this case is the rapid change in the SEC’s stance, indicating unused denial orders may exist. Seyffart argued that the SEC should be less political, focusing on logic and reason rather than post-hoc legal justifications.
For more details, watch the full June 5 KITCO interview and explore Seyffart’s insights on his Twitter.
Greater transparency in SEC decisions could lead to more reasoned and less politically driven outcomes.
