Circle CEO predicts approval of applications to launch spot bitcoin ETFs in the US
According to Jeremy Allaire, the States have all the necessary infrastructure to support such products
27.06.2023 - 11:30
78
1 min
0
Circle’s co-founder and CEO, Jeremy Allaire, expects the new wave of Bitcoin exchange-traded funds (ETFs) to be approved as “past concerns” of regulators are being addressed.
“I believe progress is being made with more mature market structures that would support something like that. You have mature spot markets, well-regulated custody infrastructure, and good market surveillance,” he said during an interview with Bloomberg at the World Economic Forum. “Many of the past concerns are being addressed, suggesting that these kinds of products are more likely to be approved for general investor access.”
The U.S. Securities and Exchange Commission (SEC) has received multiple spot bitcoin ETF applications from blue-chip asset managers such as BlackRock (BLK) and Invesco (IVZ).
Many believe that the creation of a market surveillance mechanism is the secret to getting these spot ETFs approved, much as regulators in Ontario wanted to see a mature custody ecosystem in place before approving the first bitcoin ETFs to trade in Toronto.
ProShares’ Bitcoin Strategy ETF (BITO), a bitcoin futures fund, recorded the highest weekly inflow in over a year, with investors pouring in $65 million, CoinDesk recently reported, demonstrating that the asset class still has considerable interest from investors.
During the interview with Bloomberg, Allaire also said that Circle is seeing demand for digital dollars in emerging markets.
This material is taken from the website https://www.coindesk.com.
Useful material?
Telegram 
Twitter Incidents
The attacker conducted a flash loan attack by exploiting vulnerabilities in the protocol.
Jul 21, 2023
Market
The former CEO of the exchange discussed building a bunker and conducting genetic experiments with his younger brother
Jul 21, 2023
Incidents
Hayden Adams restored the account nine hours later
Jul 21, 2023
Market
Chainlink CEO Sergey Nazarov predicted the growth of the blockchain industry by trillions of dollars
Jul 20, 2023
Market
The company stopped accepting bitcoin payments in May 2021
Jul 20, 2023
Politics
The bill is designed “to fight the rise in crypto-facilitated crime”
Jul 20, 2023
Cryptocurrency rates
-
Bitcoin
$26 618
BTC
-2.21%
-
Ethereum
$1 590.03
ETH
-2.39%
-
BNB Smart Chain
$210.3
BSC
-2.14%
-
Ripple
$0.5075
XRP
-2.68%
-
Dogecoin
$0.0614
DOGE
-2.33%
-
Cardano
$0.2462
ADA
-2.46%
-
Polkadot
$4.01
DOT
-3.11%
-
Litecoin
$64.67
LTC
-0.12%
-
Bitcoin Cash
$207.77
BCH
-4.21%
-
Stellar XLM
$0.1133
XLM
-3.74%