Critics lash out at ‘unsound’ and ‘ahistorical’ spot Bitcoin ETF approval

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While the crypto sector celebrated the landmark approval of several spot Bitcoin ETFs, not everyone was pleased by the decision.

While the crypto industry celebrated the long-awaited landmark approval of spot Bitcoin (BTC) exchange-traded funds (ETFs) in the United States, not everyone was pleased with the decision by the U.S. Securities and Exchange Commission (SEC) decision. 

In a Jan. 10 statement, SEC Commissioner Caroline Crenshaw — one of two commissioners to vote against the approval — wrote that the agency’s move to greenlight the Bitcoin-based investment vehicles was “unsound and ahistorical.”

“I am concerned that these products will flood the markets and land squarely in the retirement accounts of US households who can least afford to lose their savings to the fraud and manipulation that appears prevalent in the spot bitcoin markets and will impact the ETPs,” Crenshaw wrote.

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Source link Coin Telegraphs

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