BITO ETF Doesn’t Necessarily Pave Early Path For Spot ETFs Or ETFs On Other Crypto Futures
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ETFs on bitcoin futures are now acceptable to the SEC. However,
the next development may take some time. SEC Chairman Gensler is
seemingly not so receptive to ETFs on spot bitcoin because SEC
staff appears to believe the exchanges listing them are not
sufficiently regulated themselves and don’t have significant
size. I also don’t expect to see ETFs based on futures of other
cryptocurrencies following Bitcoin’s lead either until the SEC
and CFTC decide which agency should maintain jurisdiction over
other cryptocurrencies, like ether.
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