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The SEC will allow joke and meme ETFs, and triple leverage commodity ETFs, but a normal, non-leveraged Bitcoin ETF? No, we have to protect investors from that.
by ursuscamp 4y ago
The SEC will allow joke and meme ETFs, and triple leverage commodity ETFs, but a normal, non-leveraged Bitcoin ETF? No, we have to protect investors from that.
- chollida1 4y agoThe SEC's reasoning for not allowing a spot BTC ETF is that you can't trust the markets it trades on and more importantly for them, they can't go and subpoena the trader information from, say Binance, if they think there is market manipulation going on iwth the spot price of BTC. They can do that with leveraged and meme ETF's so those same reasons don't hold.
- drexlspivey 4y agocan’t they just have it track the price on regulated american exchanges only?
- TheCoelacanth 4y agoThe SEC's job is to stop you from being defrauded, not to stop you from making stupid investment decisions.