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Congressmen Emmer & Soto to SEC Chair Gensler: We want BTC Spot ETFs
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Congressmen Todd Emmer and Darren Soto sent a bipartisan letter to Securities & Exchange Commission Chair Gary Gensler on Wednesday, strongly questioning why the agency has denied approval for the creation of a Bitcoin spot ETF while allowing Bitcoin Futures ETFs to begin trading.
In a spot ETF, the fund holds the actual commodity (in this case bitcoin) whereas in a futures ETF fund holds contracts to buy and sell the commodity at a future date at a specified price.
In a press release announcing the letter, Minnesota Republican Emmer said:
Soto, a Democrat from Florida, affirmed in his accompanying statement:
In October, ProShares Bitcoin Strategy ETF enjoyed the highest first day natural volume of any ETF ever. Although the SEC was expected
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