While the government shutdown is slowing the SEC's work, Atkins said he still intends to initiate formal rulemaking by the end of 2025 or beginning of 2026.
Rising bitcoin prices, improved efficiency, and heavy investment in high-performance computing fueled a strong second quarter for miners, the bank said.
Though liking the long-term prospects for the Winklevoss-led company, KBW placed a market perform rating on the stock, expecting GEMI to remain unprofitable for the time being.