US Securities and Exchange Commission head Gary Gensler reaffirms support for Bitcoin ETFs, as the regulator continues to push approval for crypto funds. The SEC is currently reviewing over a dozen ETF functions for bitcoin and bitcoin futures merchandise.
In statements ready by the Financial Times for the “North American Conference on Wealth Management of the Future,” Gensler celebrated various open-ended mutual funds invested in bitcoin futures traded on the Chicago Mercantile Exchange, Lord Web reports.
Gensler cited a 1940 law that offered “significant investor protection” for mutual funds and ETFs. In August, the head of the SEC first shared his support for a Bitcoin futures ETF backed by 1940 legislation when he said he would facilitate the launch of Bitcoin funds, coming into the market underneath inescapable situations. SEC is currently reviewing more than a dozen ETF functions for bitcoin and bitcoin futures merchandise, but none of them has been authorized yet.
“I look forward to staff reviewing such applications,” Gensler stated in ready statements.
In recent months, Valkyrie Investments, VanEck, Invesco, ProShares, Galaxy Digital, and AdvisorShares have submitted applications to launch Bitcoin exchange-traded funds.
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About the Author
Eva Fox
Eva Fox joined Tesmanian in 2019 to cover breaking news as an automotive journalist. The main topics that she covers are clean energy and electric vehicles. As a journalist, Eva is specialized in Tesla and topics related to the work and development of the company.
