👨‍💼 CFTC chairman explains difference between bitcoin futures and ETFs

While bitcoin is a commodity, bitcoin ETFs are securities under the jurisdiction of the U.S. Securities and Exchange Commission (SEC). In an interview with CNBC, U.S. Commodity Futures Trading Commission (CFTC) chairman Giancarlo explained the disparity. “More broadly, the SEC, their oversight is over capital formation markets with a big retail focus,” Giancarlo said. “Ours, at the CFTC, our focus is on risk transfer markets and we are always focused on derivatives and a lot of that is institutional trading. So we are focused on institutional investments, they are focused on retail.”