Bogart: SEC regulators face asymmetric downside risk approving Bitcoin ETFs
Spencer Bogart · 802: Crypto VC: After $10m Raised in ICO for Fund 3, Now Demand High for $250m Fund 4 · Oct 4, 2017 · at 5:27
Spencer Bogart, managing director at Blockchain Capital, explains why regulatory staff at the SEC are structurally reluctant to approve a spot Bitcoin ETF.
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“If you're at the SEC, you know, this is one of those things where if you approve this particular ETF, and it goes really well, you know, nobody comes back and kind of, you know, gives you a big promotion, right? But if you do approve it, and something goes wrong, you know, maybe a billion dollars worth of assets flows into this type of a fund And some sort of a hack or something like that happens, you know, you might lose your career. So, so it's just kind of this asymmetric downside risk from a regulator's standpoint of approving such an ETF.”
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