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US SEC raises doubts about Bitcoin ETFs amid biggest cryptocurrency slump

The SEC said it has questions concerning how funds holding substantial amounts of cryptocurrencies and related products would satisfy the requirements of the 1940 Act


The US Securities and Exchange Commission (SEC) has questioned the prospects of bitcoin exchange-traded funds saying there are a significant number of investor protection issues about cryptocurrencies and related products that need to be examined. The issues need to be addressed before sponsors begin offering these funds to retail investors, the SEC said in a letter on Thursday to two trade groups. "We have asked sponsors that have registration statements filed for such products to withdraw them," the SEC said. The SEC said it has questions concerning how funds ...

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First Published: Fri, January 19 2018. 12:31 IST