SEC: Bitcoin ETF Progress Is Obvious, But Applicants Still Have to Work

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According to SEC head Jay Clayton, doubts about the risks of manipulation in the cryptocurrency market are still not exhausted.

Yesterday, the chairman of SEC, the chief financial regulator of the United States, Jay Clayton, in a conversation with CNBS, outlined the current position of his department regarding the likelihood of approval of cryptocurrency exchange funds.

“The progress on the Bitcoin ETF is obvious, however, applicants have yet to work on their products towards obtaining permission from the SEC,” said Clayton.

According to the official, the Commission still has not exhausted doubts about the risks of manipulation in the cryptocurrency market.

Recall that already in October, the SEC is obliged to make decisions on applications for bitcoin ETFs submitted earlier this year by VanEck / SolidX (October 18) and Bitwise (October 13).

At the same time, last week it became known that VanEck and SolidX bitcoin ETFs will be partially launched without SEC approval

There are exceptions in US laws that allow the provision of similar services to corporate institutional clients (hedge funds and banks, for example). Retail investors will have to wait for permission from financial regulators.

 

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