SEC Chairman Gary Gensler addresses concerns regarding the first bitcoin ETF. On CNBC, he addressed the topic with Proshares CEO Simeon.
BTO (Bitcoin Exchange Traded Fund) is a Bitcoin ETF based on bitcoin futures contracts traded on the Chicago Mercantile Exchange. Concerns expressed on air by CNBC analyst Bob Pisano about bitcoin futures values diverging from the current bitcoin price were echoed on the broadcast by several investors.
The futures market is a superior location to analyse pricing, according to Hyman. “The CME futures market has a higher turnover than the largest cryptocurrency exchange in the US,”he added.
Following the news that additional BTC-related products, including “Valkyrie’s Bitcoin Strategy ETF,” will be listed on Nasdaq, BitO made its debut. The Volt Crypto Industry Revolution and Tech ETF are also anticipated to hit the market soon.
Pisano pressed SEC Chairman Gary Gensler on his previous remarks, in which he said that he had no worries about the issuing of funds linked to BTC futures as he did with its spot equivalents.
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