"In a strongly worded letter to the heads of the Securities Industry and Financial Markets Association and the Investment Company Institute, the director of the division of investment management, Dalia Blass said that there were “significant outstanding questions” around how funds that held large amounts of cryptocurrencies (and related products) would satisfy the necessary regulatory requirements.SEC cools traders’ hot plans for cryptocurrency-based exchange traded funds | TechCrunch
In the letter Blass identified a number of areas of concern for the regulatory agency including the valuation of underlying cryptocurrency assets held by mutual funds or exchange traded funds; the actual liquidity of the assets that these funds would hold; the institutions that would provide custodial oversight for the assets; and the exposure of the assets to both market manipulation and trading arbitrage."
Friday, January 19, 2018
SEC cools traders’ hot plans for cryptocurrency-based exchange traded funds | TechCrunch
On a related note, see Bitcoin could be here for 100 years but it's more likely to 'totally collapse,' Nobel laureate says (CNBC)