{"id":12711,"date":"2021-10-01T00:54:13","date_gmt":"2021-10-01T00:54:13","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/sec-chairman-gary-gensler-looks-forward-to-review-of-bitcoin-futures-etf-filings\/"},"modified":"2021-10-01T00:54:13","modified_gmt":"2021-10-01T00:54:13","slug":"sec-chairman-gary-gensler-looks-forward-to-review-of-bitcoin-futures-etf-filings","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/sec-chairman-gary-gensler-looks-forward-to-review-of-bitcoin-futures-etf-filings\/","title":{"rendered":"SEC Chairman Gary Gensler Looks Forward to Review of Bitcoin Futures ETF Filings"},"content":{"rendered":"

The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, explains that some laws provide \u201csignificant investor protections\u201d for exchange-traded funds (ETFs), including those seeking to invest in bitcoin futures. He looks forward to seeing the SEC\u2019s review of such filings.<\/strong><\/p>\n

SEC Chairman Looks Forward to Staff\u2019s Review of Bitcoin Futures ETF Filings<\/h2>\n

SEC Chairman Gary Gensler talked about crypto regulation and bitcoin exchange-traded funds (ETFs) at the Financial Times\u2019 Future of Asset Management North America conference Wednesday.<\/p>\n

In prepared remarks, he discussed \u201cinvestment vehicles providing exposure to crypto assets,\u201d noting that \u201cEarlier this year, a number of open-end mutual funds launched that invested in Chicago Mercantile Exchange (CME)-traded bitcoin futures.\u201d<\/p>\n

Gensler added, \u201cSubsequently, we\u2019ve started to see filings under the Investment Company Act [\u201940 Act] with regard to exchange-traded funds (ETFs) seeking to invest in CME-traded bitcoin futures,\u201d elaborating:<\/p>\n

When combined with the other federal securities laws, the \u201940 Act provides significant investor protections for mutual funds and ETFs. I look forward to staff\u2019s review of such filings.<\/p>\n

In August, Gensler similarly said<\/a> he looked forward to the staff\u2019s review of ETF filings, \u201cparticularly if those are limited to these CME-traded bitcoin futures.\u201d<\/p>\n

He also emphasized at the conference on wednesday the need for investor protection. \u201cThis crypto space is now certainly of a size that without those investor protections of banking, insurance, securities laws, [and] market oversight, I do think somebody is going to get hurt. A lot of people are likely to get hurt,\u201d Gensler was quoted by the Financial Times as saying.<\/p>\n

The chairman has been urging crypto companies to come in and discuss whether they need to register with the SEC. Without naming specific platforms, he said, some companies have \u201csaid things publicly about some of those conversations.\u201d Recently, Coinbase took to Twitter<\/a> to talk about its lending product that the SEC threatened to sue over if it is launched. CEO Brian Armstrong called the securities watchdog\u2019s behavior \u201csketchy.\u201d The Nasdaq-listed company subsequently abandoned<\/a> its plan to launch the product.<\/p>\n

Gensler said Wednesday:<\/p>\n

There are going to be times that people come in and we say: \u2018Register.\u2019 It\u2019s not going to be everybody comes in and says: \u2018Can you please tell us we are not a security.\u2019<\/p>\n

Do you think the SEC will approve a bitcoin ETF or bitcoin futures ETF this year? Let us know in the comments section below.<\/strong><\/em><\/p>\n

Bitcoin News
\nRegulation, Bitcoin ETFs, bitcoin futures, bitcoin futures etfs, CME, Gary Gensler, investor protection, SEC, sec chairman<\/p>\n","protected":false},"excerpt":{"rendered":"

The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, explains that some laws provide \u201csignificant investor protections\u201d for exchange-traded funds (ETFs), including those seeking to invest in bitcoin futures. He looks forward to seeing the SEC\u2019s review of such filings. SEC Chairman Looks Forward to Staff\u2019s Review of Bitcoin Futures ETF Filings…<\/p>\n","protected":false},"author":0,"featured_media":12712,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-12711","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-coin-news"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/12711"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=12711"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/12711\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/12712"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=12711"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=12711"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=12711"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}