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Gary Gensler: Bitcoin ETFs have been under the microscope of federal institutions for 4 years


Following the launch of the first Bitcoin Bitcoin Exchange (ETF), the Chairman of the US Stock Exchange Commission and the CEO of Proshares expressed their views on this historic event.

to the Report Coin Telegraph, Gary Gensler, Chairman of the US Stock Exchange Commission, and Simeon Hyman, CEO of Providers, spoke yesterday during CNBC’s breaking news program about the first bitcoin ETF in US history.

The Proshares Bitcoin Strategy, traded under the acronym “BITO” on the New York Mercantile Exchange, is based on Bitcoin futures on the Chicago Mercantile Exchange (CME). During the conversation, Bob Pisano, host of Cyanobc network, referred to the concerns of investors who believe that the market price of bitcoin futures contracts could deviate from the current market.

The CEO of Proshers has said:

The futures market is the best place to find out the price. The Chicago Mercantile Exchange futures market is larger than the largest US exchange. We launched a similar mutual fund on July 28 and since its launch on Friday [بعدی] The price of Bitcoin has risen by 52%, our Bitcoin Mutual Fund has grown by 52% and the Bitcoin Mutual Fund of Greyscale has grown by 37%.

The release of shares of the future ETF shares was accompanied by the news of the imminent launch of other Bitcoin trading funds, including the ETF of Valkyrie on the Nasdaq stock market. Volt Equity also plans to launch another ETF soon, consisting of shares in several companies operating in the Blockchain industry.

The CNN presenter went on to ask Gensler about his previous comments, saying he was not worried about offering future ETFs instead of current ETFs, and the chairman of the US Securities and Exchange Commission confirmed the matter, saying:

What we are looking for is to move new projects to an environment where investors are supported. Bitcoin futures for 4 years under the microscope has been the closest organization to the Exchange Commission, the Commodity Futures Trading Commission. We now have something that has been under the control of government legislators for the past four years and has been given to the Stock Exchange Commission under the 1940 Organizational Investment Act.

Referring to Bitcoin’s history of bitcoin pricing, US securities regulations and the new opportunity for investors, Heimen CEO also expressed confidence in the success of the company’s new trading fund, saying:

The historical dimensions of this issue are very broad. We believe that it will be a good trade. We think that legitimate futures trading under the Enterprise Investment Act of 1940 could provide an opportunity to invest in Bitcoin for those who have been out of the market.

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