SEC’In the days when Turkey increased its pressure on the crypto money sector, big financial companies followed one after another. spot Bitcoin ETF His application was a breath of fresh air for Bitcoin and altcoins.
After Bitcoin ETF applications BTC going up to $31,000 altcoinThere were also large increases in
Now with eyes turned to the SEC, which has so far not accepted a spot Bitcoin ETF application, the investment firm from Bernstein The ETF report has arrived.
CoindeskBernstein analysts reported that the SEC’s spotlight bitcoin The SEC’s spotlight, noting that its stance on the ETF is difficult to sustain BTC He stated that the probability of ETF approval is very high.
Gautam Chhugani Bernstein analysts led by the report included the following statements:
“The SEC believes and disapproves of a spot Bitcoin ETF as unreliable because spot exchanges (e.g. Coinbase) are not under its regulation and therefore consider the spot BTC price unreliable and open to manipulation.
The absence of a spot Bitcoin ETF in the US is leading to the growth of over-the-counter products such as the Grayscale Bitcoin Trust (GBTC), which are more expensive, illiquid and inefficient.
At this point, the SEC should aim and prefer to introduce a spot Bitcoin ETF managed by more mainstream Wall Street participants and regulated by the oversight of existing regulated exchanges, rather than dealing with an OTC product like Grayscale that fills the institutional void.”
As it will be remembered, companies such as Invesco and Fidelity, especially the world’s largest asset management company Blackrock, also applied for a spot Bitcoin ETF.
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