Blockchain info: SEC highlights the need for protection on Bitcoin ETF
On Thursday, Jay Clayton, the United States Securities and Exchanges Commission (SEC) Chairman spoke regarding the crypto during an interview. Clayson said he’s still in concern for investor protection when it is all coming to the commission approving another Bitcoin Exchange Traded Fund (ETF).
Furthermore, during the interview, Clayton claims he’s neutral when it’s about digital currencies. According to Clayton, he is not that spokesperson appearing against the crypto assets. Clayton point on his concern on the possible manipulation in accordance with space. According to him, he is to guarantee investor protection.
Clayton said, “What I’m concerned about at the moment is if it can be reasonably demonstrated that the underlying trading is generally not manipulated. It’s happening on reliable venues with good rules, and that custody is something we can feel comfortable about.”
SEC Chairman stand on Bitcoin ETFs
Meanwhile, during the interview, Clayton refuses to comment on specific Bitcoin ETF applications. He further elaborates by noting that there “may be a case where a Bitcoin ETF could satisfy our rules.”
“I think this technology has and is already demonstrating pretty significant promise, but it’s demonstrating significant promise in the places where it’s consistent with our approach to capital raising in the past,” Clayton added.
VanEck/SolidX Bitcoin ETF
Elsewhere, just recently, the SEC reports that it will soon begin a countdown period in approving or disapproving the VanEck/SolidX ETF. That was upon withdrawing the ETF applications because of the United States government shutdown during late January. Moreover, the Chicago Board Options Exchange (CBOE) re-submitted an application a week later.
Subsequently, earlier this week, Clayton confirms his previous statements regarding Ethereum and other similar cryptocurrencies. According to Clayton, those cryptocurrencies are not securities covered by the United States law. Despite that, Clayton specifies his belief that the digital assets definition as security could change in time.