In an interview with CNBC, the chairman of the Securities and Exchange Commission, Jay Clayton, announced the progress of the Bitcoin ETF, but the work has not yet been completed and requires serious consideration.
SEC considers Bitcoin ETF
During the interview, Clayton raised concerns about the approval of the Bitcoin ETF, noting the lack of a proper crypto-storage provider and the threat of price manipulation on unregulated exchanges.
The head of the SEC acknowledged that cryptocurrency enterprises are already much closer to the necessary standards, but they have not yet proven the safety of the Bitcoin ETF for investors.
And this is despite the fact that new custody service providers will appear this year, including the new Fidelity trustee business and Anchorage, the San Francisco-based company.
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- Clayton's comments come just a few weeks before the deadline for the two ETF proposals, Bitwise and VanEck/Soldix, is accepted by the SEC on October 13th and 18th.
Editor: Pereyidenko Ihor