As the crypto market continues to grow, its importance will continue to be felt by the wider financial sector.
Gary Gensler, Chairman of the Securities and Exchange Commission (SEC), is looking forward to reviewing more filings submitted by companies seeking to create Bitcoin futures ETFs.
ETF is the abbreviation for exchange-traded fund, a collection of securities traded on the stock exchange.
Gary Gensler, in a prepared remark, discussed crypto regulation and bitcoin exchange-traded funds (ETFs) at Financial Times’ Future of Asset Management North America conference on Wednesday.
“I look forward to staff’s review of such filings.” He said in the prepared remark.
The former investment banker is excited about the potential for Bitcoin futures ETFs but acknowledges that there are major risks involved with trading Bitcoin futures.
Glenser, citing a law enacted in 1940, also believes that some regulations offer “significant investor protections” for mutual funds and ETFs.
The US SEC is currently reviewing more than a dozen applications for Bitcoin ETFs filings for bitcoin and other related products, but so far, none have been approved.