Jay Clayton said in an interview with CNBC that we are closer to a Bitcoin ETF but there is work still left to be done.
Custody was the main issue, he said how do the SEC really know that they or investors have a hold of digital assets. In that respect, it clearly is not the same as tangible assets like gold or coffee.
He also said as cryptos trade on overseas/unregulated exchanges how can we be sure those prices are not manipulated.
He finished off by saying progress had been made but we cannot move forward until people are comfortable those issues are solved.
Remember there are some ETF decisions being made this month.
To have a look at the dates click here.
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