US Congressmen Sent SEC Letter Advocating For Spot Bitcoin ETF

Today, the Securities and Exchange Commission (SEC) Chairman Gary Gensler was sent a letter written by two U.S. Congressmen, Tom Emmer (MN-06) and Darren Soto (FL-09), advocating for the approval of a spot bitcoin exchange-traded fund (ETF) to begin trading in the country.

“We question why, if you are comfortable allowing trading in an ETF based on derivatives contracts, you are not equally or more comfortable allowing trading to commence in ETFs based on spot Bitcoin,” the letter said. “Bitcoin spot ETFs are based directly on the asset, which inherently provides more protection for investors.”

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