SEC again warns of bitcoin investment, ETF approval seems to have gone away


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Applicable Article – CoinDesk Capture

The Securities and Exchange Commission (SEC), the U.S. securities regulator, has once again warned against investing in Bitcoin futures funds, CoinDesk reported on the 10th (local time).

◇ SEC warns of very risky investment in Bitcoin futures : The SEC urges investors who invest in funds exposed to the Bitcoin futures market to carefully evaluate the potential risks and benefits of investing. Cryptocurrency) is very speculative.”

This warning is the second warning from the SEC regarding speculative potential in Bitcoin.

The SEC last month warned that investing in Bitcoin ETFs (extra-traded funds) may be unsafe because of Bitcoin’s volatility.

◇ Bitcoin ETF approval may be delayed: This suggests that the SEC’s ETF approval may be delayed, CoinDesk analyzed.

Currently, several investment firms have asked the SEC to allow Bitcoin ETFs. However, the SEC is not granting approval for investor protection, saying that the related regulations are still insufficient.

The listing of the Bitcoin ETF has been regarded as another mega good news for the cryptocurrency market since the listing of Bitcoin futures on the Chicago Mercantile Exchange (CME). This is because, if the SEC permits the listing of a Bitcoin ETF, numerous institutional investors who follow it will be able to make indirect investments in Bitcoin.

◇ FT also “Effective ETF approval has gone out of business within this year” : Earlier, the Financial Times (FT) of the UK reported that the US SEC is showing a principled reaction to the listing of a Bitcoin ETF, so an early listing is unlikely to be realized.

The FT reported on the 2nd that SEC Chairman Gary Gensler, who was initially known to be favorable to cryptocurrencies, is showing a principled reaction to the Bitcoin ETF approval, so it is unlikely that an early ETF listing will be realized.

SEC Chairman Gary Gensler – Save the SEC Homepage

SEC Chairman Gensler appeared before the US House of Representatives Financial Services Committee last week and spoke negatively about the bitcoin ETF listing.

“There is too little protection for investors in the cryptocurrency market,” he said. “None of the exchanges that trade cryptocurrencies have registered with the SEC as an exchange,” he said.

Experts agree that his remarks mean that he will allow the listing of a Bitcoin ETF after significantly tightening regulations on cryptocurrency trading.

According to the FT, there is a forecast that the listing of the Bitcoin ETF within the year has passed.