US SEC, Bitcoin “very speculative” ── ETF approval is still ahead?
It warns that investing in a trust that trades Bitcoin futures may take more risks than investors are aware of.
The warning was issued by major financial institutions such as US investment bank Morgan Stanley and the world’s largest asset manager, BlackRock, through investment products such as cash settlement Bitcoin futures and Grayscale Bitcoin Trust. It corresponds to the start of diversified investment in Bitcoin. Over the past year, major institutional investors have entered the Bitcoin market one after another.
The 11th document covers investment trusts, but it could also affect Bitcoin exchange-traded funds (ETFs), which crypto advocates have been waiting for for years.