THELOGICALINDIAN - US assembly accept alleged on the Securities and Exchange Commission SEC to accept bitcoin atom exchangetraded funds ETFs Since the SEC has accustomed the trading of bitcoin futures ETFs the assembly said it should no best accept apropos with bitcoin atom ETFs and should appearance a agnate alertness to admittance the trading of bitcoin atom ETFs
Lawmakers Urge SEC to Permit Trading of Bitcoin Spot ETFs
U.S. Representatives Tom Emmer and Darren Soto beatific a bipartisan letter to the administrator of the Securities and Exchange Commission (SEC), Gary Gensler, Wednesday apropos bitcoin exchange-traded funds (ETFs). So far, the SEC has accustomed two bitcoin futures ETFs but has yet to accept any bitcoin atom ETF.
Rep. Emmer said:
Noting that the SEC accustomed two bitcoin futures ETFs, Reps Emmer and Soto wrote: “We catechism why, if you are adequate acceptance trading in an ETF based on derivatives contracts, you are not appropriately or added adequate acceptance trading to arise in ETFs based on atom bitcoin.”
They explained, “Bitcoin atom ETFs are based anon on the asset, which inherently provides added aegis for investors,” abacus that futures articles “are potentially abundant added airy than a bitcoin atom ETF and may appoint essentially college fees on investors.”
Referencing the SEC’s antecedent acumen for abrogating atom bitcoin ETFs, the assembly asserted that “Since the SEC no best has apropos with bitcoin futures ETFs,” again “it apparently has afflicted its appearance about the basal atom bitcoin bazaar because bitcoin futures are, by definition, a acquired of the basal Bitcoin atom market.” They continued:
The letter additionally addendum that while the SEC continues to abjure bitcoin ETFs, “numerous atom bitcoin advance cartage accept been offered,” with added than $40 billion in assets beneath administration (AUM).
“However, because these articles accept been clumsy to annals as ETFs with the SEC, accessible trading about occurs at a amount that is not agnate to net asset value, and in fact, these articles accept afresh been trading at abrupt discounts to their net asset value,” the congressmen stressed. They elaborated:
The letter concludes: “The SEC is in a position to accept bitcoin futures ETFs, as reflected by the trading of these products, so it should additionally be in a position to accept bitcoin atom ETFs.”
What do you anticipate about the SEC acknowledging bitcoin futures ETFs but not bitcoin atom ETFs? Let us apperceive in the comments area below.
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