What were the concerns raised by regulators regarding the NYSE Bitcoin ETF in 2017?

1 answers

• Thibault RousseauJul 16, 2024 · 2 years ago
  As an expert in the field, I can tell you that regulators had a number of concerns regarding the NYSE Bitcoin ETF in 2017. One of the main concerns was the potential for market manipulation. Regulators were worried that the ETF could be used to manipulate the price of Bitcoin, which could have a negative impact on investors. Another concern was the lack of transparency in the cryptocurrency market. Unlike traditional financial markets, the cryptocurrency market operates 24/7 and is not subject to the same level of oversight. This lack of transparency made regulators worried about the potential for fraud and insider trading. Lastly, regulators were concerned about the security of Bitcoin and other cryptocurrencies. There have been several high-profile hacks and thefts in the industry, and regulators were worried that the ETF could be vulnerable to similar attacks. These concerns were the main reasons why regulators were hesitant to approve the NYSE Bitcoin ETF.
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