WSJ Crypto Reporter: The SEC’s Bitcoin ETF Concerns Are Valid

Last week, a metaphorical sword was stabbed through the hearts of crypto investors, as the SEC announced that it would be denying nine Bitcoin-backed ETF proposals from ProShares, Direxion, and GraniteShares. In three individual documents elaborating on the verdict, SEC commissioners outlined the fact that Bitcoin markets lack “significant size” and are still subject to widespread fraud and manipulation.  While the U.S. regulatory body has since sought to stay and “review” the denial verdict, the SEC’s concerns regarding such a vehicle still rang true in the ears of some, including the Wall Street Journal’s Paul Vigna.

As such, Vigna, who has become the WSJ’s foremost crypto reporter, recently appeared on CNBC to discuss his opinion regarding the regulatory state of Bitcoin/Crypto-backed ETFs.

Commencing his segment regarding the subject, the reporter stated:

The SEC’s concerns are very valid… for a currency that makes a big deal out of having a public transaction…