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As the dust settles on the SEC's begrudging approval of spot bitcoin ETFs – and trading begins – the shitshow behind the scenes is becoming clearer.

While Chair Gensler voted to approve the ETFs, he offered a personal statement worthy of the best cover-your-ass comment, warning that his decision in no way 'approves bitcoin' itself and that it's a very scary place for investors full of terrorists, money-launderers, and drug-traffickers.

Was Gensler genuflecting to Liz Warren in hopes of repentance?

His comments were not missed by ArkInvest's Cathie Wood:

For some reason, the two Democratic SEC Commissioners chose to dissent, dis-approving of the ETFs…

Of course, their decision was not political at all – though they offered no rationale for their dissents.

Why would they be against the democratization?

Grzegorz Drozdz, market analyst for the European Union-based financial services platform Conotoxia commented that the general introduction of Bitcoin ETFs seems to have “significantly democratized” access to the market, “going beyond traditional cryptocurrency exchanges and wallets."

Ah yes that's why – because free-will and personal sovereignty are not part of the Marxist maxim preached from the left.

But it was Hester Peirce – so-called 'Crypto Mom' – that exposed the whole politcized farce in a wide-ranging rant statement after the vote.

Here it is in full (emphasis ours):

Roughly translated, her message is clear…

Weaponizing agencies? Politcized decision-making?

 The 'people' seems happy as Bitcoin tops $48,000 and Ethereum rallies above $2600…

Source: Bloomberg

Wood maybe said it best: “It’s the old DNA basically bashing the new DNA."