The Securities and Exchange Commission (SEC) has approved three ETFs for bitcoin futures, and this policy indicates that the US regulator recognizes cryptocurrency as an asset class. This point of view is shared by David Abner, representing the top management of the Gemini exchange.
He said that the influence of the crypto market had increased so much that the SEC can no longer ignore or pursue a repressive policy towards holders of digital assets.
Moreover, the representative of the trading platform does not exclude that by the end of this year, the Securities and Exchange Commission may even agree to recognize the spot bitcoin ETF.
ETF Trends CEO Tom Lydon is less optimistic. According to him, the SEC will not rush to legalize a spot product focused on the leading digital currency. The regulator still fears the volatility of the underlying asset and manipulation of its price.
At the same time, the same expert shares the point of view of those who expect to reach $ 100,000 for BTC. But this will not happen in the first, but most likely in the second quarter of next year, Lydon emphasized.