The SEC Is Opening Its Mind to BTC ETFs. Gary Gensler of the U.
08 Aug 2021, 08:00
The SEC Is Opening Its Mind to BTC ETFs
Gary Gensler of the U.S. Securities and Exchange Commission (SEC) has expressed a certain and sudden openness regarding bitcoin and crypto-based exchange-traded funds (ETFs), though many BTC and crypto analysts aren’t too happy about the situation.
Will Bitcoin ETFs Soon Garner Approval?As it turns out, Gensler wants these ETFs to operate under a strict mutual fund rule that dates all the way back to the 1940s. In addition, he has stated that while the agency would be open to bitcoin ETFs, they should focus primarily on bitcoin futures, which would require that investors put down a lot of money before engaging in any sort of trade.