Cryptocurrency / Bitcoin ETF Coming races coming down quite a bit and I know this is something Joe’s been paying close attention to. Now below 8,000 what kind of demand is there for Bitcoin type ETFs.
That’s an excellent question I mean we’ve had like the issuers that want to put out these products pushing for this for more than a year. And I think there is still demand there because we’re seeing kind of Bitcoin even though it’s kind of falling we’re still seeing kind of like people wanting to be able to invest in it.
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I think really it’s more about access to it because Bitcoin at the moment it’s relatively unregulated. If completely unregulated, you have to have a special account to go and buy it.
Maybe go on a coin base or something like that with an exchange-traded product you have the sort of comfort that comes from having something on an exchange.
I think the impression for the issue is that what to do these products is that if you have exchange-traded products that give you access to Bitcoin.
From a regulatory standpoint
People will come and use them feel better and they will come right, but I’m struggling here you said they’re struggling to buy it we can’t even classify what it is whether it’s a currency whether it’s a commodity let alone the true price.
Beacuse the prices differ depending on what platform you’re on, I mean from a regulatory standpoint how do you ensure daily liquidity accurate pricing? And frankly a full faith and disclosure to retail investors, that could be getting into this thing,
Well, this is exactly what the SEC has been asking for. back in January, they came out with a letter that wanted to know the industry’s response to
just those questions. they asked about how do you value this what’s the liquidity like what’s the arbitrage like manipulation.