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