Former SEC Official: Not Convinced Approval of Spot Bitcoin ETF is a Good Thing

John Reed Stark, former Director of the SEC's Office of Internet Enforcement, expressed on the X platform that he personally is not a proponent of a spot Bitcoin ETF and does not view the approval of such an ETF as a positive development. Stark believes that the idea of a spot Bitcoin ETF is still a "ridiculous" concept as it would create yet another Wall Street scheme to attract massive investments, and a spot Bitcoin ETF could be the most "centralized" crypto product.