BitGo CEO Mike Belshe said: cryptocurrency Despite widespread optimism in the industry, the US Securities and Exchange Commission (SEC) is likely to Bitcoin (BTC) He expressed his belief that he would reject exchange traded fund (ETF) applications.
In a recent interview with Bloomberg, Belshe suggested that the SEC may reject existing applications due to the lack of distinction between exchanges and depository institutions. Several applicants had selected Coinbase as a custodial partner for a potential ETF.
Belshe expressed concern about the risks associated with Coinbase, saying, “There are a lot of risks with Coinbase that are not understood.” Belshe continued his words as follows:
“I think the SEC will probably go back and say, ‘no, you need to separate these completely before we go any further.’”
The SEC has a history of rejecting large numbers of applications, even though many ETF analysts predicted a 90% chance of an ETF being approved in January. The SEC postponed a decision on Hashdex’s futures-spot hybrid ETF application yesterday. Today, Franklin Tempton needs to make a decision on the Bitcoin Spot ETF application, which will most likely result in postponement.
*This is not investment advice.
For exclusive news, analysis and on-chain data Telegram our group, twitter our account and YouTube Follow our channel now! Moreover Android And iOS Start live price monitoring now by downloading our applications!