Former SEC Chairman advises the latest Bitcoin ETF participant

Jay Clayton, former chairman of the US Securities and Exchange Commission (SEC) and repeatedly said that the US market does not need a fund (ETF) traded on the cryptocurrency exchange, is now helping a business with its own Bitcoin ETF implementation. What a difference it makes a year. Clayton, who previously said that the Bitcoin market is prone to market manipulation and therefore should not be an ETF on the US stock market, resigned from the SEC last year to serve as the fund's crypto advisor. speculative digital One River Asset. Administration. . And One River filed a carbonless Bitcoin ETF with the SEC today. Analysts say the latest high-profile company to do this (the SEC is currently reviewing eight applications) and the market is hungry for such a product. Only two implications are possible: Jay Clayton thinks a bitcoin ETF needs to be approved now or it will do anything for the money. Uy3tcby – Eric Balchunas (@EricBalchunas) May 24, 2021 ETFs are popular investment products that allow people to buy stocks, the underlying asset, such as gold or real estate. With a Bitcoin ETF, investors can invest in Bitcoin or other cryptocurrencies such as Ethereum without having to own assets. Instead, investors buy shares from the fund, like stocks that track the price of the cryptocurrency. There is no Bitcoin ETF yet in the US market, as the Clayton-led SEC has blocked all applications, citing market manipulation, lack of transparency in the crypto markets, and possibly a lack of liquidity. Former SEC Chairman Jay Clayton takes on the role of crypto consultant at One River. But Bitcoin and Ethereum ETFs are a huge hit in Canada, of which there are currently eight in the country. One River's app says it wants to launch a carbon-neutral Bitcoin ETF. The idea, according to the file, is that the ETF will involve the purchase of carbon credits to minimize the product's carbon footprint. "

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