Valkyrie Investments investment director Stephen McClurg on a podcast Cointelegraph said the collapse of the FTX cryptocurrency exchange further delayed the launch of the spot ETFs based on bitcoin in the US.
According to him, the main problems for US regulators in this matter remain storage and market manipulation. McClurg believes that the first difficulty would have been largely resolved if not for the collapse of FTX.
The investment director of Valkyrie Investments considers fears of market manipulation unfounded. He cites the successful operation of such tools in Canada since February 2021.
“We spent due diligence on Celsius, Voyager, BlockFi, FTX and never worked with them. We have decided that they are not safe platforms to participate in,” McClurg said.
He also said that Valkyrie Investments “believes” in approving a spot Bitcoin ETF in the next administration after the 2024 presidential election or through legislative action.
In June 2022, asset manager VanEck filed paperwork to launch a spot Bitcoin ETF. Previous Statement by the US Securities and Exchange Commission (SEC) rejected in November 2021.
The firm felt that a positive regulator’s verdict would be logical after allowing the bitcoin futures ETF. Similar tool from VanEck received approval in October 2021. He became the third in a row after products from Pro Shares And Valkyrie Investmentsthat are listed in the US.
In October 2021 Grayscale Investments filed an application to convert a trust based on digital gold into a spot bitcoin ETF.
Dec 17 SEC postponed decision on the application, and in February 2022 took that step again. June 30 sued the regulator after the final rejection of her application.
The company has previously indicated that the SEC is willing to approve bitcoin-ETF based on futures with the rejection of applications based on its spot option. may violate Law on administrative procedures.
Craig Salm, head of Grayscale’s legal department, estimates that the lawsuit against the Commission could take one to two years. The company considers the decision of the regulator as “unfair discrimination”.
Recall that the editors of the Wall Street Journal accused the head of the SEC Gary Gensler’s “confusing” approach to accepting a Bitcoin Spot ETF.
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Cryplogger Newsletters: Keep your finger on the pulse of the bitcoin industry!
Valkyrie Investments investment director Stephen McClurg on a podcast Cointelegraph said the collapse of the FTX cryptocurrency exchange further delayed the launch of the spot ETFs based on bitcoin in the US.
According to him, the main problems for US regulators in this matter remain storage and market manipulation. McClurg believes that the first difficulty would have been largely resolved if not for the collapse of FTX.
The investment director of Valkyrie Investments considers fears of market manipulation unfounded. He cites the successful operation of such tools in Canada since February 2021.
“We spent due diligence on Celsius, Voyager, BlockFi, FTX and never worked with them. We have decided that they are not safe platforms to participate in,” McClurg said.
He also said that Valkyrie Investments “believes” in approving a spot Bitcoin ETF in the next administration after the 2024 presidential election or through legislative action.
In June 2022, asset manager VanEck filed paperwork to launch a spot Bitcoin ETF. Previous Statement by the US Securities and Exchange Commission (SEC) rejected in November 2021.
The firm felt that a positive regulator’s verdict would be logical after allowing the bitcoin futures ETF. Similar tool from VanEck received approval in October 2021. He became the third in a row after products from Pro Shares And Valkyrie Investmentsthat are listed in the US.
In October 2021 Grayscale Investments filed an application to convert a trust based on digital gold into a spot bitcoin ETF.
Dec 17 SEC postponed decision on the application, and in February 2022 took that step again. June 30 sued the regulator after the final rejection of her application.
The company has previously indicated that the SEC is willing to approve bitcoin-ETF based on futures with the rejection of applications based on its spot option. may violate Law on administrative procedures.
Craig Salm, head of Grayscale’s legal department, estimates that the lawsuit against the Commission could take one to two years. The company considers the decision of the regulator as “unfair discrimination”.
Recall that the editors of the Wall Street Journal accused the head of the SEC Gary Gensler’s “confusing” approach to accepting a Bitcoin Spot ETF.
Found a mistake in the text? Select it and press CTRL+ENTER
Cryplogger Newsletters: Keep your finger on the pulse of the bitcoin industry!
