{"id":352137,"date":"2021-10-13T11:58:50","date_gmt":"2021-10-13T08:58:50","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/sec-chair-gary-gensler-actually-is-pro-bitcoin-vault-equity-ceo-argues\/"},"modified":"2021-10-13T11:58:50","modified_gmt":"2021-10-13T08:58:50","slug":"sec-chair-gary-gensler-actually-is-pro-bitcoin-vault-equity-ceo-argues","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/sec-chair-gary-gensler-actually-is-pro-bitcoin-vault-equity-ceo-argues\/","title":{"rendered":"# SEC Chair Gary Gensler actually is pro-Bitcoin, Vault Equity CEO argues"},"content":{"rendered":"

“# SEC Chair Gary Gensler actually is pro-Bitcoin, Vault Equity CEO argues <\/strong>”
\n<\/p>\n

The founder of Vault Equity\u00a0believes that United States regulators have a fair reason to be slow in app<\/a>roving a pure Bitcoin (BTC)-related exchange-traded fund (ETF).<\/p>\n

Vault Equity CEO and founder Tad Park voiced support for the U.S. Securities Exchange Commission (SEC) regarding the regulator\u2019s unwillingness to approve an ETF that would track Bitcoin directly.<\/p>\n

In a Tuesday Fox Business interview, Park argued<\/a> that SEC chair Gary Gensler \u201cactually is pro-Bitcoin\u201d but is also \u201ca little bit misunderstood\u201d regarding his perspective on crypto regulation in the U.S.<\/p>\n

Park specifically referred to the SEC\u2019s investor protection concerns, namely that crypto custody providers have yet to assure the commission that they can actually ensure proper asset protection:\u00a0<\/p>\n

\u201cI can say \u2018I have a gold ETF or a Bitcoin ETF\u2019 but I\u2019m storing that gold in my basement. Is the SEC gonna allow that? Probably not. Unless companies can show they can custody it and actually address a lot of the issues Gansler specifically mentioned, it\u2019s not gonna work.\u201d<\/p><\/blockquote>\n

The CEO added that \u201cat least half\u201d of current crypto ETF applications with the SEC \u201care not even valid\u201d because \u201cthey are not addressing what Gary Gensler is saying.\u201d<\/p>\n

Park emphasized that Vault Equity\u2019s crypto ETF does not provide direct exposure to Bitcoin, but instead tracks major Bitcoin-correlated companies including MicroStrategy, Tesla, Twitter<\/a>, Square as well as Bitcoin mining companies like Bitfarms.<\/p>\n

\u201cWe try to get at what people are actually looking for, which is correlation to Bitcoin\u2019s price movement. These companies are really focusing on Bitcoin and get the majority of their income and revenues from Bitcoin. It makes sense that they tend to move along with Bitcoin\u2019s price,\u201d Park noted.<\/p>\n

Related: <\/em><\/strong>Bitcoin futures ETF will likely be delayed until 2022 says research firm CFRA<\/em><\/strong><\/p>\n

Approved on Oct. 1, Vault Equity\u2019s Volt Crypto Industry Revolution and Tech ETF tracks\u00a0\u201cBitcoin Industry Revolution Companies,\u201d a list of firms holding a majority of their net assets in Bitcoin or derive a majority of their earnings from Bitcoin mining, lending or transactions.<\/p>\n

The SEC has yet to approve a pure Bitcoin ETF. On Oct. 1, the SEC extended the deadline for four Bitcoin ETFs\u00a0including Global X Bitcoin Trust, Valkyrie XBTO Bitcoin Futures Fund, WisdomTree Bitcoin Trust and Kryptoin Bitcoin ETF. In August, SEC chair Gensler suggested that the regulator might be open to approving Bitcoin futures ETFs.<\/p>\n