HomeCryptocurrency lawExpert: SEC will Approve Several More Bitcoin ETFs

Expert: SEC will Approve Several More Bitcoin ETFs

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SEC

Former SEC lawyer Lisa Braganza believes that the regulator will approve several more bitcoin ETFs

“I expect that the SEC will give the opportunity to register several more ETFs, since the regulator does not want there to be only one offer on the market. They want customers to have a wide choice,” Braganza said.

On Friday, ProShares received approval from the SEC for the operation of a bitcoin futures . On October 19, trading starts on the New York Stock Exchange. There are still about 30 applications to be considered, and the head of the SEC, Gary Gensler, hinted that only futures ETFs will be approved this year.

According to Braganza, the decision to approve any is a clear position and desire of Gensler himself:

“I think that such approval of the would not have happened if a representative of the old guard had remained at the head of the SEC. Gensler is much more inclined to experiment than is believed. But he is not trying to do everything in a rush, but pushes the agency to learn more about bitcoin and get out of the usual comfort zone.”

Braganza stressed that the regulator is still concerned about the possibility of manipulation of the bitcoin exchange rate, which was a typical reason for postponing decisions on bitcoin ETFs. But the successful monitoring of the futures market by the Commodity Futures Trading Commission (CFTC) and interest in potential ETFs from large institutions reassured the SEC:

“This is the minimum step that the SEC could take and it shows the regulator’s confidence in these .”

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