🐌 [Analysis] Crypto-based funds crawl toward mom and pop - Chris Marquette

The Securities and Exchange Commission (SEC) is moving slowly towards a crypto backed exchange-traded fund (ETF) out of considerations for mom and pop investors. Several groups have asked for SEC approval only to be shot down for a plethora of reasons. For instance, the Winklevoss twin's ETF proposal of last July, Bats BZX Exchange Inc., was denied over fraud, market manipulation, and lack of liquidity concerns. For a crypto-back ETF to be approved, significant requirements need to be met, requirements regular ETFs face when listing. The issue is, however, that cryptocurrency and stock markets are categorically different. Listing an exchange before its ready is a public danger, one the SEC would rather sit on than let reek havoc. Crypto ETF's, like Bats, are moving to satisfy requirements, but it looks like the marathon run is only on mile ten.