SEC Chair Gary Gensler is under pressure from crypto executives and some fund managers over delayed approvals of bitcoin ETF, according to Markets Insider.
Crypto executives read double standards in SEC delayed approvals of Bitcoin ETF, saying common concerns like market manipulation and volatility exist in other asset classes.
The executives warn that delaying approvals carries its own risks, noting that countries of Europe, Canada, and Brazil have moved ahead with bitcoin funds.
There are concerns that crypto enthusiasts may seek alternative and dubious avenues for investing their funds, adding more risks to the industry.
Some fund managers still agree with SEC taking its time, saying an approval of bitcoin ETF could open all manner of crypto products.
Solidus Labs COO, Chen Arad, expects SEC approval to rest on the industry giving assurances through shared surveillance and data-sharing agreements. BTCUSD is down -5.06%