RATE Group | Does VanEck Bitcoin ETF Address the Concerns of SEC Chairman on Manipulation?
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Does VanEck Bitcoin ETF Address the Concerns of SEC Chairman on Manipulation?

30 Nov Does VanEck Bitcoin ETF Address the Concerns of SEC Chairman on Manipulation?

Posted at 03:36h in Cryptocurrency News by

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Earlier this week, US Securities and Exchange Commission (SEC) Chairman Jay Clayton said at a conference in New York that to approve a Bitcoin exchange-traded fund (ETF), the SEC needs to see a market that is free of manipulation.

Clayton stated:

“What investors expect is that the trading in that commodity that’s underlying the ETF is trading that makes sense, is free from the risk or significant risk of manipulation. Those kinds of safeguards don’t exist in many of the markets where digital currencies trade.”

The SEC believes most cryptocurrency exchanges in the global market have not implemented safeguards to eliminate the risk of manipulation, making it increasingly unlikely for an ETF based on a cryptocurrency exchange to be approved by the SEC.

What Now?

In July, the Bitcoin ETF filing of the Winklevoss twin was

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