US SEC: Bitcoin funds raise 'investor protection issues' - RTRS

Dhwani Mehta FXStreet

Dalia Blass, the Director of the division of investment management at the US Securities and Exchange Commission (SEC) raised concerns over the safety of bitcoin-themed investments in a letter late-Thursday.

The SEC’s division of investment management demanded answers to at least 31 detailed questions about how mutual funds or exchange-traded funds (ETFs) based on bitcoin would store, safeguard, and price that asset.

Key Quotes via Reuters:

“There are a number of significant investor protection issues that need to be examined before sponsors begin offering these funds to investors.”

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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