JUST IN: A new report coming from DigitalChamber slams SECGov for rebuffing the crypto industry’s attempts to set up spot bitcoin exchange-traded funds (ETFs). jesseahamilton reports
The agency says it can approve an application when the product has “a comprehensive surveillance-sharing agreement with a regulated market of significant size.”
Earlier this year, the SEC did approve a futures ETF from Teucrium that was filed under the same law that the spot ETF applications relied on, which has further sharpened frustrations for those seeking the spot funds. But SEC Chair Gary Gensler has argued that he’s fine with the futures ETFs under the law, because it enshrines certain consumer protections.
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