Market Manipulation Main Concern for SEC & Possible BTC Bull Returning: Winklevoss Brothers
Creators of the U.S. based cryptocurrency exchanging platform Gemini – Cameron and Tyler Winklevoss added their thought on the current situation of ETF projects and SEC’s standing point, during an interview with Laura Shin on Unchained crypto-podcast.
The brothers believe that the negative reply that the commission gave to many Bitcoin ETF were lead [in majority] by the market-manipulation concern. Accordingly Tyler noted that digital currency investors/traders should be introduced and experience the same protection as if they would purchase a share of leading firms like Apple or Tesla.
“I think that investors deserve the same protections that they get if they buy a share of Tesla or Apple, and I don’t think it’s unreasonable for regulators to strive for that, and especially since, as Cameron mentioned, this would be the first of many. It’s much more than just one product. It opens a big frontier, and it’s got to be opened correctly.”
In the same manner – Bitwise Asset Management, is another firm that has entered the ring with SEC for an ETF approval. Despite that the reviewing is meeting delays because of the government shut-down and many crypto-enthusiasts see the commission as anti-crypto, the team from Bitwise speaks highly of the progress which the community has made with the regulators and the primary questions which SEC is asking are a matter to be discussed first hand.
“The questions the SEC has asked publicly around custody, pricing, arbitrage and market manipulation in the crypto markets are the right issues to be discussing.”
While the demand for investing through Bitcoin ETFs is strong [Bitwise posted survey – 58% of financial advisors would prefer the mentioned investment-road] it is a hot debate if it will impact the market or initiate a major momentum, by no doubt the legitimacy which the crypto-verse is welcoming more and more will play a huge factor to the next bull run that many consider is not that long away.