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Crypto ETFs excite demand, but the real action is elsewhere
Exchange-traded funds are among the simplest and most popular financial instruments. For many retail investors, if they trade only one instrument, it is likely to be an ETF. Various entities have been pitching the idea of a bitcoin ETF to the US Securities and Exchange Commission for several years with no success. The SEC’s objection has historically been that cryptoassets, which are traded on exchanges that the SEC does not yet regulate, are open to manipulation. To give the SEC its due, that’s most likely true. Research from Solidus Labs found that, of all the crypto transactions in 30,000 liquidity pools since ... (full story)