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BitGo CEO Mike Belshe expressed his belief that despite widespread optimism in the cryptocurrency industry, the US Securities and Exchange Commission (SEC) will likely reject spot Bitcoin (BTC) exchange-traded fund (ETF) applications.
In a recent interview with Bloomberg, Belshe suggested that the SEC may reject existing applications due to the lack of distinction between exchanges and depository institutions. Several applicants had selected Coinbase as a custodial partner for a potential ETF.
Belshe expressed concern about the risks associated with Coinbase, saying, “There are a lot of risks with Coinbase that are not understood.” Belshe continued his words as follows:
<blockquote>
 “I think the SEC will probably go back and say 'no, you need to completely separate these before we go any further.'”
</blockquote>
Related News: <a href="https://en.bitcoinsistemi.com/altcoin-up-284-percent-in-the-last-month-plunges-on-rumors-developer-defends-it-as-fud/" target="_blank" rel="noopener noreferrer nofollow">Altcoin, Up 284 Percent in the Last Month, Plunges on Rumors, Developer Defends It as 'FUD'</a>
The SEC has a history of rejecting large numbers of applications, even though many ETF analysts predicted a 90% chance of an ETF being approved in January. The SEC postponed a decision on Hashdex's futures-spot hybrid ETF application yesterday. Today, Franklin Tempton needs to make a decision on the Bitcoin Spot ETF application, which will most likely result in postponement.
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/while-everyone-is-waiting-for-approval-renowned-ceo-says-bitcoin-spot-etfs-will-be-rejected-explains-the-reason-why/" rel="noopener noreferrer nofollow">While Everyone Is Waiting For Approval, Renowned CEO Says ‘Bitcoin Spot ETFs Will Be Rejected’, Explains The Reason Why</a>

While Everyone Is Waiting For Approval, Renowned CEO Says ‘Bitcoin Spot ETFs Will Be Rejected’, Explains The Reason Why

Bitcoin Sistemi EN

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