Elliot Johnson argues surveillance agreement key to SEC approval of spot Bitcoin ETF


29 Jun 2023 5:10 PM

Evolve ETFs' chief investment officer opened up on his experiences in helping to bring Bitcoin ETFs to Canada....

  • Elliot Johnson of Evolve ETFs discusses the key to BlackRock's potential success in obtaining its Bitcoin ETF, which is its surveillance agreement.
  • The surveillance agreement between Coinbase and NASDAQ allows regulators to monitor Bitcoin trades and ensures oversight and integrity in the marketplace.
  • Cathie Wood's recent filing amendment for a Bitcoin ETF also includes a surveillance-sharing agreement, indicating a move to compete with BlackRock.
  • The SEC has been hesitant to approve Bitcoin ETFs due to concerns about surveillance and manipulation in the spot market.
  • Johnson emphasizes the importance of a transparent and regulated index for a Bitcoin ETF to function properly.
  • BlackRock's Bitcoin ETF, with its strong surveillance mechanism, could be a turning point in the cryptocurrency space.
  • Johnson predicts that professional investors will see Bitcoin as a necessary asset in their portfolios, reflecting a shift in investor sentiment.

The overall sentiment of the article is positive, highlighting the potential success of BlackRock's Bitcoin ETF and the increasing acceptance of Bitcoin among investors.

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You May Ask

What is the key factor that could contribute to BlackRock's success in obtaining its Bitcoin ETF?Which companies are involved in the surveillance agreement mentioned in the article?Why has the SEC been hesitant to approve Bitcoin ETFs in the past?What is the importance of a transparent and regulated index for a Bitcoin ETF?How does Elliot Johnson predict professional investors will view Bitcoin in the future?

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