Bitcoin ETF Discouraged by US SEC on Safety Grounds

Bitcoin (BTC) exchange-traded funds (ETFs) are unlikely to materialize any time soon, as the latest hawkish move by the US Securities and Exchange Commission (SEC) indicates. Speaking during a New York conference, SEC chairman Jay Clayton expressed worries that cryptocurrencies could be stolen or manipulated by exchanges, Bloomberg reported.

“What investors expect is that the trading in that commodity that’s underlying the ETF is trading that makes sense, is free from the risk or significant risk of manipulation. Those kinds of safeguards don’t exist in many of the markets where digital currencies trade,” Clayton said in an interview conducted by Silver Lake co-founder Glenn Hutchins.

Digital currency exchanges sprung up spontaneo…

This article appeared first on Cryptovest

Like this: Like Loading...