FTX fiasco set the approval of Bitcoin spot ETFs back: Valkyrie investment chief
In episode 11 of Hashing It Out, Cointelegraph's Elisha Owusu Akyaw (GhCryptoGuy) speaks to Steven McClurg, the chief investment officer of Valkyrie Investments, about the state of Bitcoin ETFs and the way forward.
Regulators in the United States of America have mounted stiff opposition against listing Bitcoin spot ETFs even though Canadian and European regulators have given the green light.
McClurg points out that even for the Canadian and European markets, these approvals also took a long time. According to McClurg, the two biggest issues U.S.
regulators have with Bitcoin spot ETFs are custody and market manipulation. The chief investment officer believes that the issue of custody is one that would have largely been dealt with if not for the FTX fiasco, which caused regulators to take a step back to focus on scrutinizing whether custodians are safe before approving more Bitcoin investment products.
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