The SEC is in no hurry to approve complex products for bitcoin

Although U.S. regulators have approved futures ETF of bitcoin, more complex funds, based on derivatives, have not yet received regulatory approval.

SEC не спешит с одобрением сложных продуктов на биткоин

The SEC is in no hurry to approve complex products for bitcoin

Direxion Company, supplier of financial products, at the request of the SEC withdrew the application for the launch of the Direxion Bitcoin Strategy Bear ETF, filed 26 october.

The withdrawal of the application follows a similar move by Valkyrie, which became the second issuer, which launched the US Bitcoin Futures ETF last month. Late last week, she withdrew her application for the Valkyrie XBTO Levered BTC Futures ETF — which was supposed to provide 1.25x leverage in relation to the base price of the cryptocurrency. According to the statement, The SEC also demanded that Valkyrie withdraw the application. 26 october.

First US Bitcoin ETFs Launched Last Month, almost ten years after the first applications were submitted.

“Although it looks somewhat inconsistent, Considering, that they accepted futures products, it's not surprising and, most likely, is part of the policy of small steps ", — said Eric Balchunas, Analyst, Bloomberg Intelligence.

Similar discretion and rejection, seem to be, apply not only to cryptocurrencies. In early October, the SEC issued a statement stating that, that regulators are considering new rules for leveraged funds, and warned of potential risks. However, appetite for derivatives funds remains high.

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