Lawyers, execs explain how BitMEX news could help Bitcoin ETF chances

News › Bitcoin › BitMEX › U.S. › Legal Nick Chong ·October 3, 2020 at 12:30 pm UTC · 2 min read

Making up over a billion dollars of volume a day, this news was notable for the entire Bitcoin market.

SEC pushed back against an ETF specifically for price manipulation on unregulated exchanges.

He added that he expects other firms with “big BTC volume” to join BitMEX in terms of being regulated before the SEC “signs off on an ETF.”

Thomas Lee, a co-founder of Fundstrat and a long-time crypto analyst, is not sure that Bitcoin is at a point where it can feasibly sustain an ETF.

“They’re establishing protections for individuals and right now it’s not convenient for the industry, but if the SEC is someone that people trust, that’s how you get the mainstream willing to get involved in crypto.”

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