U.S. regulators have still not approved any crypto ETFs

Article Excerpt

Regulators appeared to be in no hurry to approve ETFs that invest in cryptocurrencies. Their main concerns hinged on the risks that investor assets could not be kept safely in custody, a lack of transparency, significant price volatility and possible market price manipulation of cryptocurrencies such as bitcoin and ether. However, since Canadian regulators approved the first crypto ETF, another 10 have made it onto the public markets in Canada. Apart from the three funds covered in this issue, there are also bitcoin ETFs available from Horizons, Ninepoint, 3iQ Coinshares, and Evolve. All of the managers, except for Ninepoint, offer ETFs investing in another cryptocurrency, ether. These ETFs have attracted more than $2.0 billion in a short period of time. European regulators have also selectively allowed crypto ETF listings. The largest are listed in Sweden, Germany and Switzerland and hold assets of over $3.0 billion U.S. Notably, U.S. regulators have remained skeptical about bitcoin ETFs since the first attempt at…