Regulatory Outlook | 07.21.21
Wall Street Watchdog Keeps Bitcoin ETFs on Ice
The SEC earlier this month said it would seek public comment on WisdomTree’s proposal to launch a bitcoin ETF, focusing on whether the fund would be safe for investors. The agency has already sought comment on bitcoin products from at least four other firms. The industry has not yet been able to persuade the SEC, and experts say that officials are unlikely to change their minds until the SEC can monitor trading activity on crypto exchanges the way it does in other assets. The SEC has moved slowly on other new ETF concepts before ultimately approving them. For example, the SPDR Gold Shares ETF launched in 2004 following two years of debate.
Read the full article on Wall Street Journal.