SEC Crypto ETF Approval Comment By Alpay Soytürk, Chief Regulatory Officer, Spectrum Markets

Commenting on the SEC’s announcement that it has approved the first US bitcoin-equity ETF, Alpay Soytürk, Chief Regulatory Officer at pan-European securitised derivatives trading venue Spectrum Markets, said:

“The SEC’s acknowledgement that existing frameworks can already be used to provide investors with regulated products to access the cryptocurrency growth story is a watershed moment that will open the door to further innovation in the space.

Longer term, our view continues to be that current regulatory definitions need to be updated, and their scope expanded, to more comprehensively cover the complexities and idiosyncrasies of cryptocurrency, if it is to realise its potential as a more mainstream asset class.

But for now, this is a very positive step in the right direction, that sees regulators and the financial community come together to meet the ever-growing investor demand for secure and effective ways of investing in cryptocurrencies. Clear, consistent and effective regulation will be the pillars on which the next chapter of the cryptocurrency story are built.”