SEC Chair Gary Gensler issues crypto warning (again) ahead of upcoming spot Bitcoin ETF decision

U.S. Securities and Exchange Commission Chair Gary Gensler issued a warning — again — to investors looking to buy into crypto a day ahead of an expected move by the agency to decide whether or not to greenlight spot bitcoin exchange-traded funds. 

"If you're considering an investment involving crypto assets, be cautious," Gensler posted on X on Tuesday morning. "Crypto asset securities may be marketed as new opportunities but there are serious risks involved."

Gensler included a link to a post by the SEC's Office of Investor Education and Advocacy titled "Thinking about buying the latest new cryptocurrency or token" with an image of bitcoin in the post. It is not immediately clear when that post was published. 

"I can’t tell you how many people have come up to me and asked if they should invest in bitcoin," said Lori Schock, director of the SEC's Office of Investor Education and Advocacy, said in the post. 

Second warning 

This marks Gensler's second warning this week to crypto investors. On Monday, Gensler posted a few tips for crypto investors, offering up "some things to keep in mind."

"Investments in crypto assets also can be exceptionally risky & are often volatile," he wrote in a post on X on Monday. "A number of major platforms & crypto assets have become insolvent and/or lost value. Investments in crypto assets continue to be subject to significant risk." 

Both posts don't mention spot bitcoin ETFs, specifically, but come at an interesting time as asset firms are working to get the SEC's signoff to begin trading their spot bitcoin ETFs as early as Thursday.