Chairman of the US Securities and Exchange Commission (SEC) Jay Clayton said that before the launch of ETF Bitcoin, a lot of work needs to be done.
As Clayton noted in an interview on CNBC, despite the fact that significant steps have been taken towards launching exchange traded funds (ETFs) on bitcoin, “there is still work to be completed.”
“Given that such products are mainly traded on unregulated exchanges, how can we make sure that they are not manipulating the price? We have made some progress, but people need to answer these difficult questions, ”he said.
The SEC chairman emphasized that in the US investors will be able to access Bitcoin ETFs, however, it is necessary to ensure the proper level of security.
“We are doing this, but there are a couple of things that we need to solve. One of the important conditions for launching Bitcoin ETFs is the emergence of custodial services, ”said Clayton.
Note that recently Bakkt cryptocurrency platform launched a Bitcoin storage service for customers.