The Road to Bitcoin ETF Approval: Challenges and Solutions by BitGo's Mike Belshe


18 Nov 2023 6:13 AM

Mike Belshe, the Co-founder and CEO of BitGo, recently spoke with Bloomberg Crypto, sharing his insights on the current state and future prospects of...

  • Mike Belshe, Co-founder and CEO of BitGo, shares his insights on Bitcoin Exchange-Traded Funds (ETFs) and the importance of separating custodians and exchanges in the cryptocurrency market.
  • Belshe is cautiously optimistic about the approval of Bitcoin ETFs but expects more rejections before any positive developments.
  • He highlights the ongoing dialogues between ETF applicants and the SEC, with BitGo actively involved in these discussions.
  • Belshe emphasizes the necessity of distinguishing between exchanges and custodians for the integrity and security of the crypto market.
  • He raises concerns about Coinbase operating as both a custodian and an exchange, suggesting a need for clarity and separation in the industry.
  • Belshe recommends BitGo as a viable alternative, as it exclusively focuses on custodial services without engaging in trading or exchange operations.

The overall sentiment of the article is cautious optimism. While there are challenges and concerns, there is also hope for positive developments in the approval of Bitcoin ETFs and the potential for a more secure and focused approach to custodianship.

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You May Ask

What is Mike Belshe's view on the approval of Bitcoin ETFs?What is the role of BitGo in the ongoing discussions with the SEC?Why does Belshe emphasize the need for a clear separation between custodians and exchanges?What concerns does Belshe raise about Coinbase's dual role as a custodian and an exchange?Why does Belshe recommend BitGo as a viable alternative in the industry?

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