Dec 1, 2023
The spotlight continues to grow on Canada’s Bitcoin exchange traded fund (ETF) market and regulatory regime as the Securities Exchange Commission (SEC) moves to evaluate proposals for similar products in the U.S.
In February 2021, Canadian regulators approved the first spot Bitcoin ETF and while the market has had some volatility there has been growth in 2023. As a result, there has been interest in the U.S. market for Bitcoin ETFs, as it is orders of magnitude larger than that of the Canadian market. However, the SEC has not approved any proposed ETF applications to date.
“The most important difference between Canada and the U.S. right now is regulatory certainty in Canada,” wrote Laure Fouin, Co-Chair of Osler’s Digital Assets and Blockchain group, in a reply to DL News. Laure referenced specific cryptoasset-related guidance from the Canadian Securities Administrators.
Read the full article written by Tyler Pearson in DL News.