John Reed Stark, former director of the SEC Internet Enforcement Office, said on the X platform that he is not personally a supporter of Bitcoin spot ETFs and does not think the approval of Bitcoin spot ETFs is a good thing.John believes that the idea of a Bitcoin spot ETF is still a "ridiculous" model because it will create another Wall Street investor scam that attracts huge amounts of money, and the spot Bitcoin ETF may be the most "centralized" encryption product.