, regulators have repeatedly stated their concerns about the “maturity” of the “underlying markets” and their potential for “fraud and manipulation.”According to the Grayscale CEO, the approval of ProShares’ ETF product serves as a testament to Bitcoin’s maturity.
“How could one interpret $BITI coming to market as anything other than further acknowledgment of Bitcoin’s maturity?… Bitcoin’s price discovery is supported by not only a healthy two-sided market that underpins multiple long products but also a derivatives market robust enough to offer short exposure to retail investors,” he said.
Sonnenshein concluded that at this point, it would only be logical for the SEC to approve a Bitcoin Spot ETF, which has long been anticipated.So far, the SEC has rejected every attempt to introduce a spot-based Bitcoin ETF to the U.S. crypto market.
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