EXCLUSIVE: New Crypto ETF May Be On The Way, But Lobbyists Say US Is The Worst-Regulated Market
Portfolio Pulse from Neil Dennis
Industry lobbyists at the Benzinga Future of Digital Assets conference expressed concerns about the lack of clear cryptocurrency regulations in the U.S. and the predominance of enforcement through the courts rather than proactive guidelines. The FTX scandal's impact on regulatory sentiment was noted, and comparisons were made with clearer regulatory frameworks in the U.K. and EU. Concerns were also raised about misconceptions regarding cryptocurrency's use in illicit finance. Despite regulatory challenges, there is anticipation for a potential Bitcoin ETF approval by the SEC, with companies like BlackRock and Valkyrie awaiting a decision expected in early 2024.

November 14, 2023 | 8:12 pm
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BlackRock is one of the asset management companies awaiting SEC approval for a Bitcoin ETF, which could potentially be approved in early 2024.
The anticipation of a Bitcoin ETF approval could generate positive sentiment among investors, potentially increasing BlackRock's attractiveness if they are perceived as a leader in the crypto ETF space.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70