GBTC - Analyst Slams Better Markets CEO Who Said Bitcoin ETF Approval Would Be A 'Historic Mistake': 'An Absolutely Criminal Move.' | Benzinga
Ahead of a critical decision by the U.S. Securities and Exchange Commission (SEC), Better Markets CEO Dennis M. Kelleher has raised concerns about the potential approval of a spot Bitcoin exchange-traded fund (ETF).
What Happened: In a letter to the SEC, Kelleher has called on the regulatory body to reconsider its approach to a spot Bitcoin (CRYPTO: BTC) ETF, Cointelegraph reported.
Kelleher warned that such an approval contradicts the SEC’s core principles and could expose investors to serious risks, including potential fraud.
"We submit this supplemental comment letter (which Better Markets very rarely does) because it would be a grave if not historic mistake almost certainly leading to a massive investor harm if the SEC approves the pending rule change," Kelleher said.
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