- Clayton comments on agencies rejection of bids for listings
- Agency staff has expressed concern over potential manipulation
The head of the Securities and Exchange Commission said Tuesday that concern over a lack of investor protections makes it unlikely that his agency will approve a Bitcoin exchange-traded fund anytime soon.
Chairman Jay Clayton said at a conference in New York that he remains worried that cryptocurrency can be too easily stolen or manipulated on exchanges. Those issues need to be addressed before the SEC lets an ETF move forward, he said in some of his most pointed comments about why the agency has rejected recent applications for the products.