“I’ve seen a lot of speculation about BlockFi’s risk management practices that I want to address. While it is our policy not to comment on certain counterparties, we are committed to providing as much transparency as possible and it is important to know the following :” (BlockFi CEO Zac Prince) … “Spot ETPs have been launched in other countries without incident and with great investor interest. In Canada, for example, the first spot bitcoin ETP reached CA$1 billion in assets under management a month after its launch in 2020.[17] Spot crypto ETPs are also popular in Europe, where there are more than 70 crypto ETPs with total assets estimated at $7 billion.[18] ETPs in these other jurisdictions have worked, even in volatile markets. Why is the SEC a holdout? When, if ever, will the increasing maturity of bitcoin spot markets and the success of similar products elsewhere spur approval? Of course, the facts and circumstances of each application are important, but will I ever stop hearing that old-fashioned question: “When a spot Bitcoin ETP?” (SEC Commissioner Hester Peirce in a June 14 speech) … “Interview today , asked if BTC can scale payments for transparency, my answer: 1) BTC can be absolute tender, on Lightning, L2 or Wrapped 2) BTC chain not meant to scale to millions of TPS, so global payments are not directly 3 ) be bullish on blockchain payments. (FTX CEO Sam Bankman-Fried/Twitter)
