The US Securities and Exchange Commission (SEC) has accepted two more applications related to cryptocurrency ETFs. One concerns BTC and the other, perhaps a little surprisingly, the DeFi market, decentralized finances.
The latest application for the BTC ETF is Invesco, which has been applying to the SEC for a few weeks with the SEC for the BTC Futures ETF, which analysts say has a better chance of being approved. Invesco apparently hopes that it also has a chance in the case of the traditional BTC ETF, which is more in demand among investors.
The Illinois Amplify ETF, meanwhile, has applied for an ETF that would focus specifically on DeFi, decentralized finance projects. However, it is highly questionable whether such a request has any chance of success, as the SEC has not yet approved the BTC ETF, and DeFi is an area that it wants to regulate very strictly in the near future.
SEC chief Gary Gensler only recently stated that many defi projects are unregistered securities from his point of view, and that DeFi protocol developers should register them with the SEC as soon as possible for their own benefit to avoid problems.