2 ms·

Are you saying that on the one hand ETFs are approved by the SEC but on the other highly regulated institutions could not custody crypto assets as less regulate

• JumpCrisscross 2y ago
  > on the one hand ETFs are approved by the SEC but on the other highly regulated institutions could not custody crypto assets like less regulated ones I never commented on any of this. Non sequitur notwithstanding, yes. ETPs segregate the risk from the rest of the financial system. Their price discovery doesn’t even require market makers touch the underlying asset. And there are few assets less regulated than crypto. (Its proponents can’t even agree on whether it should be regulated as a currency, commodity or security.) Note that custody doesn’t mean hold. Blackrock can hold Bitcoin. It just can’t custody it and pretend it’s holding a regular financial asset.