The creation of a (BTC) exchange-traded fund is still going through its initial efforts, and there is “work left to be done”, according to US Securities and Exchange Commission chairman Jay Clayton. Speaking for CNBC, Clayton stated that progress has been made, but there are also concerns.
The chief hurdle is the notorious volatility of BTC trading, and the potential for price manipulation. In the past year, BTC has appreciated rapidly, often adding thousands within a day, or dropping just as fast, suggesting concerted efforts to move the price.
“An even harder question given that they trade on largely unregulated exchanges is how can we be sure that those prices aren&rsquo…
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