{"id":27661,"date":"2024-03-15T05:21:32","date_gmt":"2024-03-15T05:21:32","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/senators-call-for-halt-on-crypto-etfs-citing-risks-to-investors\/"},"modified":"2024-03-15T05:21:32","modified_gmt":"2024-03-15T05:21:32","slug":"senators-call-for-halt-on-crypto-etfs-citing-risks-to-investors","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/senators-call-for-halt-on-crypto-etfs-citing-risks-to-investors\/","title":{"rendered":"Senators Call for Halt on Crypto ETFs, Citing Risks to Investors"},"content":{"rendered":"<p><b>(Originally posted on : Crypto News &#8211; iGaming.org )<\/b><br \/>\n<\/p>\n<div>\n<p>Two US senators, Jack Reed and Laphonza Butler, have directed their concerns toward Gary Gensler, urging the chair of the Securities and Exchange Commission (SEC) to refrain from approving any further crypto exchange-traded funds (ETFs). Reed and Butler emphasized the \u201cenormous risks\u201d that such ETFs could pose to retail investors, particularly due to the inherent vulnerabilities of the crypto market.<\/p>\n<p>Highlighting the potential dangers, the senators emphasized the prevalence of \u201cthinly traded\u201d markets within the crypto sphere, which they argued are susceptible to fraud and manipulation. They expressed particular concern regarding ETFs referencing cryptocurrencies prone to \u201cpump-and-dump\u201d schemes, warning of the significant risks involved for retail investors.<\/p>\n<h2><strong>Challenges with Altcoin ETFs<\/strong><\/h2>\n<p>With eight proposed spot Ether ETF applications awaiting SEC approval, there have been growing expectations for the expansion of ETFs to encompass other altcoins. However, Reed and Butler\u2019s letter raises doubts about the suitability of extending ETF approvals beyond Bitcoin. They stressed the need for caution, asserting that while Bitcoin\u2019s market may have exhibited weaknesses, it remains more established and scrutinized compared to other cryptocurrencies.<\/p>\n<p>In addition to advocating for restraint in approving further crypto ETFs, the senators urged the SEC to take proactive measures concerning existing Bitcoin ETF products. They proposed enhanced regulatory oversight for brokers and advisors involved in BTC ETF transactions, emphasizing the necessity of safeguarding investors\u2019 interests amidst the evolving landscape of digital assets.<\/p>\n<\/p><\/div>\n<p><a href=\"https:\/\/igaming.org\/crypto\/senators-call-for-halt-on-crypto-etfs-citing-risks-to-investors\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Crypto News &#8211; iGaming.org ) Two US senators, Jack Reed and Laphonza Butler, have directed their concerns toward Gary Gensler, urging the chair of the Securities and Exchange Commission (SEC) to refrain from approving any further crypto exchange-traded funds (ETFs). Reed and Butler emphasized the \u201cenormous risks\u201d that such ETFs could [&hellip;]<\/p>\n","protected":false},"author":35,"featured_media":27662,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/27661"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/35"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=27661"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/27661\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/27662"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=27661"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=27661"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=27661"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}