February 4, 2022
The Bitcoin Spot EFT should have been approved before the Futures EFT. So as a Retail Investor the SEC allows me to gamble on the Future price of the Bitcoin asset. How-ever the SEC claims it is too risky to allow me to purchase a product that tracks the current price of the Bitcoin asset.
Bitcoin has become a Trillion-dollar asset and has an array of financial products. Why the Spot EFT is an issue for the SEC is lacking merit. Bitcoin is no more manipulated than Gold or Silver and they have Spot EFT's.
Hopefully Congress can create a separate department to handle Crypto affairs. Using laws decades out of date to regulate digital property is just asking for the USA to fail to become a leader in this space.