Growth will not be: the head of the SEC refuses to approve an ETF on the crypt
Source:
The Head of SEC J. Clayton said that the cryptocurrency exchange lacks transparency, therefore, the adoption of the cryptocurrency will not happen soon. Representatives of the Commission on securities and stock exchanges of the USA not sure about the reliability of Bitcoin. In their opinion, exchange-traded funds will become an easy target for market manipulation.
theBullrun postponed
About the position Clayton said at the conference, Consensus Invest in new York.
Investors think that trade commodity exchange-traded Fund makes sense and is not susceptible to manipulation. While there are certain risks that need to be deleted prior to approval of the ETF.
In Other words, the SEC hinted at age of the stock market industry of digital assets is still too young for such a trading instrument. That is why the financial regulator many applications for the creation of ETF in late summer. We will remind, then the refusal has been given to the Winklevoss brothers.
In the relatively distant future, the creation of several ETFs perhaps, but yet the SEC does not seek to take active steps in this direction. To «earn» the location of the financial regulator, industry will need several major stock exchanges, which will be easily controlled with the SEC. However, what is the point in the crypt, if it is constantly monitored close to the state Department?
Another reason for concern is the lack of sufficient custody solutions for institutional investors. At the moment, to meet the demand for such services can only Coinbase Custody.
We've seen enough of the burglaries in the stock market to think about. It is important that the assets of the ETF was in complete safety without the threat of sudden disappearance.
image Source — Politico
If you are looking forward to the ETFs as the cause of the outbreak bullrun — I dare to disappoint you. SEC to approve exchange-traded funds in the crypt for quite a long time, so now, cryptocommunist should focus on other problems.
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