Bitcoin ETF: BlackRock, Fidelity and other applicants elect their brokers

Dennis M. Kelleher is not for Bitcoin ETFs. He is asking the U.S. Securities and Exchange Commission to reject them. Details !

Don’t make the “historic mistake” with Bitcoin ETFs

The crypto-sphere has seen all kinds of predictions raining down on the date of approval of Bitcoin Spot ETFs by the SEC. Eleanor Terrett, journalist at Fox Business, however, clarified that the crypto regulatory agency would not be able to validate these trackers from the first days of January.

Better Markets CEO Dennis M. Kelleher has asked the U.S. Securities and Exchange Commission to reject requests from asset management firms seeking permission to launch spot Bitcoin ETFs in the country. »

According to CointelegraphDenis M. Kelleher called for the rejection of spot Bitcoin ETFs because these financial products go against the fundamental principles of the SEC.

Reason why the CEO of Better Markets wrote a letter to Vanessa Countryman, secretary of the SEC, on January 5. Here is an extract from this text:

We are submitting this additional comment letter (something Better Markets very rarely does) because it would be a serious, if not historic, error that would almost certainly lead to massive harm to investors if the SEC approved the pending rule change. »

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Additionally, Exchange Traded Funds increase the risk of fraud:

Approving these spot Bitcoin ETFs would not only expose investors to a market entirely contaminated by fraud and manipulation “, he continued.

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