Former SEC Official Highlights Doubtful Prospects for Bitcoin Spot ETF Approval Due to Lack of Transparency and Regulatory Concerns

John Reed Stark, a former official of the United States Securities and Exchange Commission (SEC), believes that the chances of a Bitcoin exchange-traded fund (ETF) gaining approval are slim. He emphasizes the lack of transparency in the crypto market and the absence of regulations and customer protections as reasons for his skepticism. Stark also suggests that the SEC’s views on Bitcoin ETFs might change after the US Election Day in 2024. However, he states that the approval for ETFs linked to Ethereum could happen sooner.

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