- The
SEC on Tuesday delayed WisdomTree's application for abitcoin ETF , adding to a pile-up of applications sitting on the agency's docket. - "There's nothing [in the SEC's order] that we're not saying ourselves as an ETF issuer," Ryan Louvar, general counsel at WisdomTree, told Insider.
- But the agency now may be warming up to the view, expressed by many
bitcoin fund applicants, that not approving a regulated ETF could present its own risks.
The SEC on Tuesday delayed WisdomTree's application for a bitcoin ETF, adding to a $4.
In an $4 putting off approval, the SEC called for public comment on a number of concerns, including whether the bitcoin market is subject to manipulation. The agency similarly asked for public comment in June.
"There's nothing [in the SEC's order] that we're not saying ourselves as an ETF issuer," Ryan Louvar, general counsel at WisdomTree, $4. "Bitcoin is volatile. It's a speculative asset."
But the SEC now may be warming up to the view, expressed by many bitcoin fund applicants, that not approving a regulated ETF could present its own risks. In Tuesday's filings - as in previous ones - the agency asked for comment on whether "manipulation concerns … are outweighed by quantifiable investor protection issues."
"I was encouraged by that step, that the SEC is at least taking incremental steps here," said Louvar.
SEC Chair
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