Friday, May 30, 2025
No Result
View All Result
Coins League
  • Home
  • Bitcoin
  • Crypto Updates
    • Crypto Updates
    • Altcoin
    • Ethereum
    • Crypto Exchanges
  • Blockchain
  • NFT
  • DeFi
  • Metaverse
  • Web3
  • Scam Alert
  • Regulations
  • Analysis
Marketcap
  • Home
  • Bitcoin
  • Crypto Updates
    • Crypto Updates
    • Altcoin
    • Ethereum
    • Crypto Exchanges
  • Blockchain
  • NFT
  • DeFi
  • Metaverse
  • Web3
  • Scam Alert
  • Regulations
  • Analysis
No Result
View All Result
Coins League
No Result
View All Result

BitGo CEO expects further complications before a Bitcoin ETF can hit market

November 19, 2023
in Crypto Exchanges
Reading Time: 2 mins read
0 0
A A
0
Home Crypto Exchanges
Share on FacebookShare on TwitterShare on E Mail



In a current interview with Bloomberg TV, BitGo CEO Mike Belshe expressed a cautious outlook on the approval of spot Bitcoin exchange-traded funds (ETFs) by the U.S. SEC.

Belshe’s optimism concerning the potential approval of a spot Bitcoin ETF was accompanied by a dose of realism, indicating that the trail to approval may encounter extra hurdles.

He stated he’s optimistic, however the chance of additional rejections is excessive regardless of constructive developments in discussions between ETF candidates and the SEC.

Market construction points

The important thing concern highlighted by Belshe revolves round market construction points, particularly the SEC’s insistence on the separation of change and custody roles. This challenge has been contentious in varied purposes, significantly these involving Coinbase custody.

Belshe famous that the SEC’s emphasis on market construction is just not unprecedented, citing the prevailing separation of exchanges from custody in different markets just like the CFTC market construction and equities markets. He additionally recommended aligning with this separation mannequin would profit the crypto market.

In response to Belshe:

“Gary Gensler’s made no secret about this level, you need to separate exchanges from custody.”

The potential rejection of ETF purposes may hinge on the SEC’s concern that exchanges and custody capabilities are usually not adequately separated. Belshe particularly identified dangers related to Coinbase, a selected custody accomplice for many ETF candidates.

Belshe believes the SEC will demand a whole separation of those capabilities earlier than approving the purposes.

Market optimism

Analysts estimated a 90% probability of ETF approval in January 2024, however Belshe’s remarks point out rejection stays a definite chance.

The SEC has traditionally rejected ETF purposes, citing issues about potential market manipulation and inadequate buyer safety. Nevertheless, the candidates have argued that the regulator’s issues are unfounded primarily based on its approval of Bitcoin futures ETFs.

BitGo’s CEO additionally drew parallels between Coinbase’s strategy and the unsuccessful technique of its bankrupt competitor, FTX. Belshe referenced Sam Bankman-Fried’s advocacy in Washington, D.C., for a centralized regulatory framework, a mannequin that has confronted skepticism following FTX’s collapse.

The anticipation for a spot Bitcoin ETF has been a driving drive behind current Bitcoin worth rallies, with the crypto neighborhood intently monitoring the SEC’s choices.

Bitcoin is up roughly 45% since BlackRock filed its ETF utility and is at the moment buying and selling at $36,450 after reaching a excessive of $38,000 earlier within the week.

BTC Worth & Market Knowledge

On the time of press, Bitcoin is ranked #1 by market cap and the BTC worth is up 0.46% over the previous 24 hours. BTC has a market capitalization of $716.26 billion with a 24-hour buying and selling quantity of $13.66 billion. Be taught extra about BTC ›

BTCUSD Chart by TradingView

Market abstract

On the time of press, the worldwide cryptocurrency market is valued at at $1.39 trillion with a 24-hour quantity of $44.06 billion. Bitcoin dominance is at the moment at 51.49%. Be taught extra ›



Source link

Tags: BitcoinBitGoCEOcomplicationsETFExpectshitMarket
Previous Post

Bitcoin Model That Predicted $60K Peak, Now Points To $732K Next

Next Post

The Rise & Fall Of A Crypto Mogul (Full Timeline)

Related Posts

Bitcoin eyes $120,000 price zone as exchange flows, leverage surge
Crypto Exchanges

Bitcoin eyes $120,000 price zone as exchange flows, leverage surge

May 28, 2025
Tether invests $5 billion profit into US companies while holding $120 billion in US debt
Crypto Exchanges

Tether invests $5 billion profit into US companies while holding $120 billion in US debt

May 27, 2025
Changelly Introduces Crypto Alerts to Help You Stay Ahead of Market Swings
Crypto Exchanges

Changelly Introduces Crypto Alerts to Help You Stay Ahead of Market Swings

May 26, 2025
Crypto Current: AI, Bitcoin & Market Shifts
Crypto Exchanges

Crypto Current: AI, Bitcoin & Market Shifts

May 26, 2025
Talking beers, bars, and $80 million losses with SportFi pioneer Chiliz’s Max Rabinovitch 
Crypto Exchanges

Talking beers, bars, and $80 million losses with SportFi pioneer Chiliz’s Max Rabinovitch 

May 25, 2025
BlackRock’s IBIT leads all US ETF inflows following Bitcoin’s historic rally to new ATH
Crypto Exchanges

BlackRock’s IBIT leads all US ETF inflows following Bitcoin’s historic rally to new ATH

May 24, 2025
Next Post
The Rise & Fall Of A Crypto Mogul (Full Timeline)

The Rise & Fall Of A Crypto Mogul (Full Timeline)

Save 66% on a One-Month Subscription to Xbox Game Pass

Save 66% on a One-Month Subscription to Xbox Game Pass

Shiba Inu Shibarium Network Listed As Top 5 Active Network By Node Operator

Shiba Inu Shibarium Network Listed As Top 5 Active Network By Node Operator

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Twitter Instagram LinkedIn RSS Telegram
Coins League

Find the latest Bitcoin, Ethereum, blockchain, crypto, Business, Fintech News, interviews, and price analysis at Coins League

CATEGORIES

  • Altcoin
  • Analysis
  • Bitcoin
  • Blockchain
  • Crypto Exchanges
  • Crypto Updates
  • DeFi
  • Ethereum
  • Metaverse
  • NFT
  • Regulations
  • Scam Alert
  • Uncategorized
  • Web3

SITEMAP

  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2023 Coins League.
Coins League is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • Bitcoin
  • Crypto Updates
    • Crypto Updates
    • Altcoin
    • Ethereum
    • Crypto Exchanges
  • Blockchain
  • NFT
  • DeFi
  • Metaverse
  • Web3
  • Scam Alert
  • Regulations
  • Analysis

Copyright © 2023 Coins League.
Coins League is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In