Congressmen Emmer & Soto to SEC Chair Gensler: We want BTC Spot ETFs

Congressmen Emmer & Soto to SEC Chair Gensler: We want BTC Spot ETFs

The bipartisan pair sent a letter to the securities regulator demanding spot ETF approval.

Congressmen Todd Emmer and Darren Soto sent a bipartisan letter to Securities & Exchange Commission Chair Gary Gensler on Wednesday, strongly questioning why the agency has denied approval for the creation of a Bitcoin spot ETF while allowing Bitcoin Futures ETFs to begin trading.

In a spot ETF, the fund holds the actual commodity (in this case bitcoin) whereas in a futures ETF fund holds contracts to buy and sell the commodity at a future date at a specified price.

In a press release announcing the letter, Minnesota Republican Emmer said:

“The SEC’s approach to cryptocurrency regulation has been unacceptable. […] If the SEC cannot outline the perceived material difference in risk profiles, then they should allow ETFs based on spot Bitcoin to be traded.”

Soto, a Democrat from Florida, affirmed in his accompanying statement:

“Cryptocurrency has proven to be a driver of economic growth in our society. Therefore, it is crucial for us to clearly regulate it in order to maximize the potential benefits and mitigate any risks. It’s important for us to come together to ensure that investors have consistency.”

In October, ProShares Bitcoin Strategy ETF enjoyed the highest first day natural volume of any ETF ever. Although the SEC was expected to lead the federal government’s efforts to regulate stablecoins, it appears that will not be the case. The securities regulator also recently shot down a proposed leveraged bitcoin ETF.

  • Bitcoin
  • Ethereum
  • Tether
  • Cardano
  • Polkadot
  • Binance coin
  • Dogecoin
Scan to Donate Bitcoin to 194astnfvj2nr6izGJFwG9ebRqNU7ynQYY

Donate Bitcoin to this address

Scan the QR code or copy the address below into your wallet to send some Bitcoin

Scan to Donate Ethereum to 0xe5853a1d08b3ea0bb69276b0e40cdf858968d822

Donate Ethereum to this address

Scan the QR code or copy the address below into your wallet to send some Ethereum

Scan to Donate Tether to 0xe5853a1d08b3ea0bb69276b0e40cdf858968d822

Donate Tether to this address

Scan the QR code or copy the address below into your wallet to send some Tether

Scan to Donate Cardano to DdzFFzCqrhsu1xWeeGai3gbgsbrFP26zPaVrCJqqF286carQJmAkTitRQSUCLhYLpKCotroRRNpKj7YcnAJQqpSfsHHdj8nUaitPvH4j

Donate Cardano to this address

Scan the QR code or copy the address below into your wallet to send some Cardano

Scan to Donate Polkadot to 155rGKVEanCxpi5EqGh8yh1AkGpm6bVUa7RQNydA38KzbhNu

Donate Polkadot to this address

Scan the QR code or copy the address below into your wallet to send some Polkadot

Scan to Donate Binance coin to bnb136ns6lfw4zs5hg4n85vdthaad7hq5m4gtkgf23

Donate Binance coin to this address

Scan the QR code or copy the address below into your wallet to send some Binance coin

Tag/Note:- 105346725
Scan to Donate Dogecoin to DKN9sscVgSBVyG7f9PYJq2D3BhWK5ffUmK

Donate Dogecoin to this address

Scan the QR code or copy the address below into your wallet to send some Dogecoin


Credit: Source Link

Comments are closed.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy
WP Twitter Auto Publish Powered By : XYZScripts.com