Speaking on CNBC's Squawk Box program, Gensler said that Bitcoin is included in the SEC's investor education program.

Gensler also emphasized that Bitcoin is the most commonly used ransom payment method in ransomware crimes.

Bitcoin looks weak! Bitcoin looks weak!

"Bitcoin has the largest market share in ransomware," the SEC chairman said.

Gensler also said that "crypto is an area rife with fraud and manipulation. Look at all the bankruptcies at this point."

Speaking about BTC ETFs, SEC Chairman Gary Gensler said:

"ETFs have been approved, but we are neutral on merit. ETF approvals were in no way an approval of Bitcoin.

It's just about how Bitcoin is traded in these exchange-traded products."