Georgetown University business professor urges SEC to allow spot Bitcoin ETFs to use physical creation method

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Cointime2023/12/16 03:21

By:Cointime

James Angel, a business professor at Georgetown University, wrote a letter to the US Securities and Exchange Commission (SEC) on Tuesday regarding all proposals received by regulatory agencies regarding spot Bitcoin ETFs. Professor Angel urged the US SEC to avoid micro-management of the creation/redemption process for spot Bitcoin ETFs. Angel stated that now, the US SEC seems to be satisfied with allowing spot Bitcoin ETFs to trade in the US, and it should not waste this positive development by forcing a suboptimal product (cash-only creation/redemption) into the market. Media reports indicate that the spot Bitcoin ETF, which should have been approved earlier, is about to be approved. Completing this work quickly and correctly will release SEC resources to complete other more important things to promote the SEC's important mission.

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Bloomberg ETF Analysts James Seyffart and Eric Balchunas view recent filings for exchange-trade products which track top cryptocurrencies XRP, solana, dogecoin and litecoin as having “high odds” of securing the necessary approvals.Leading in terms of their likelihood of gaining approval, the analysts estimate that Litecoin ETFs have a 90% chance of approval, followed by Dogecoin products, which possess a 75% chance.

The Block•2025/02/10 22:33