Kathleen Moriarty, partner of the law firm Arnold and Porter, which helped develop the very first exchange-traded fund (ETF), He speaks, that the SEC is in no rush to approve Bitcoin or crypto ETFs.
First attempt at a Bitcoin ETF, submitted to the Commission for approval by the Winkelvoss twins in March this year, was rejected. However, new hope, that Bitcoin ETFs may soon enter the market, reappeared, when one of the firm's lawyers, representing twins, was appointed manager of the SEC department, in charge of ETF.
However, Moriarty's comments at an ETF event in Washington, organized by the SEC and New York University, caused some concern, that hope was premature. At this event, Moriarty made it clear, that the SEC still expects more stability from the Bitcoin market, before approving a fully cryptocurrency ETF. He said:
"I did not hear., so they speak, - Bitcoin, we hate him, we will not approve it. They say - Bitcoin, he is still unstable, let's wait".
There is some disagreement as to whether, what ETF is needed for the cryptocurrency market. Владельцы активов видят в нем новые возможности для инвестиций и вложение институциональных денежных средств. Другие рассматривают его как введение риска контрагентов в актив, where such risks are minimized.
