Jim Cramer Asks SEC Chair If There Will Be A BONK ETF

Gary Gensler – chairman of the US Securities and Exchange Commission (SEC) – sat down with CNBC’s Mad Money host Jim Cramer on Wednesday to discuss the regulator’s Bitcoin and Ethereum ETF approvals, alongside what may be coming next.

That included questions about whether obscure meme coins could soon receive their own ETFs, such as SushiSwap (SUSHI) and Bonk (BONK).

  • Cramer named a host of coins to Gensler that had all traded “millions of dollars” on Wednesday morning – including Cardano, Cosmos, Immutable, Ronin, and MyNeighborAlice, among others.
  • “Now in two weeks, should we have a SushiSwap ETF?” asked Cramer. “I would think that Bonk is a natural, and Osmosis. These are millions of dollars these things are trading – shouldn’t we have some sort of product?”

  • Gensler did not provide specific answers to those questions, but noted that many of the crypto tokens generally “have not given you the disclosures you need to make investment decisions,” implying that such tokens are unregistered securities.
  • He also called out crypto exchange platforms, which are “doing things we would never allow our New York Stock Exchange to do.”
  • “You’ve seen the bankruptcies in this space,” Gensler said. “The most leading lights in this field are either in jail, about to go to jail, or awaiting extradition.”
  • Gensler also commented on the Ethereum spot ETF approvals late last month, which he said will still “take some time” before their registration statements are approved and they can be listed on public exchanges.
  • When previously questioned on the matter, BlackRock’s Head of Digital Assets said the fund had little interest in launching altcoin ETFs, with Bitcoin being the “overwhelming top priority” among its client base.

The post Jim Cramer Asks SEC Chair If There Will Be A BONK ETF appeared first on CryptoPotato.

How useful was this post?

Click on a star to rate it!

Average rating 0 / 5. Vote count: 0

No votes so far! Be the first to rate this post.

Latest posts

default post thumbnail
Cardano Founder Says ADA Is About To Undergo Biggest Change In History, What Is It?
Cardano founder, Charles Hoskinson, has declared that ADA is set to undergo one of the biggest chang...
READ MORE
post-thumbnail
Crypto Market Crash: How Low Can Bitcoin and Altcoins Drop?
The post Crypto Market Crash: How Low Can Bitcoin and Altcoins Drop? appeared first on Coinpedia Fin...
READ MORE
post-thumbnail
Crypto Market Crash: How Low Can Bitcoin and Altcoins Drop?
The post Crypto Market Crash: How Low Can Bitcoin and Altcoins Drop? appeared first on Coinpedia Fin...
READ MORE
post-thumbnail
Solana in Dire Straits: Will the Bulls Trigger a 10% Upswing and Save the SOL Price Rally From an Equal Loss?
The post Solana in Dire Straits: Will the Bulls Trigger a 10% Upswing and Save the SOL Price Rally F...
READ MORE
post-thumbnail
Ripple CEO Blasts Market for Ignoring XRP, Analyst Predicts Price Explosion to $1000
The post Ripple CEO Blasts Market for Ignoring XRP, Analyst Predicts Price Explosion to $1000 appear...
READ MORE
post-thumbnail
Crypto Regulations in Russia 2024 -A Pool of Blockchain Development Talent
The post Crypto Regulations in Russia 2024 -A Pool of Blockchain Development Talent appeared first o...
READ MORE
post-thumbnail
Toncoin (TON) Faces a Hurdle, While Lido DAO (DAO) Rebounds From Critical Levels: Will They Follow the NOT Price Rally?
The post Toncoin (TON) Faces a Hurdle, While Lido DAO (DAO) Rebounds From Critical Levels: Will They...
READ MORE
post-thumbnail
This Week in Crypto: Top News, Price Analysis, Major Hacks, & More!
The post This Week in Crypto: Top News, Price Analysis, Major Hacks, & More! appeared first on C...
READ MORE
post-thumbnail
Top Reasons Why the Crypto Market is Down Today: Good Time to Buy?
The post Top Reasons Why the Crypto Market is Down Today: Good Time to Buy? appeared first on Coinpe...
READ MORE
post-thumbnail
Crypto Market Analysis: Bitcoin Price CRASHES to $65k! What Next?
The post Crypto Market Analysis: Bitcoin Price CRASHES to $65k! What Next? appeared first on Coinped...
READ MORE
Read more posts