SEC Chair Gary Gensler approved the first US bitcoin ETFs launching, but made clear his personal hostility towards cryptocurrencies remains. Gensler said circumstances have changed since previous denials, but was forced to approve ETFs after losing a court case challenging earlier rejections. Gensler signaled ongoing legal battles asserting most cryptocurrencies are securities under SEC jurisdiction will continue. Broker-dealers recommending bitcoin ETFs to retail investors still must comply with regulations like Regulation Best Interest.