SEC Cracks Whip, Drops ‘Blockchain’ from ETFs for Misleading Investors

SEC Cracks Whip, Drops ‘Blockchain’ from ETFs for Misleading Investors


Crypto winter or not, the U.S. Securities and Exchange Commission (SEC) is cracking down on products that could mislead investors eager to gain exposure to bitcoin – or at least the technology behind it. The regulator has begun pressuring fund providers that offer so-called “blockchain ETFs” to remove the word “blockchain” from the fund names. Bloomberg reports that the SEC already asked at least two companies, Reality Shares and Amplify, to scrub the word “blockchain” from their blockchain-focused ETFs. Don’t Mislead the Public Asset manager Reality Shares launched its fund last year. The ETF gives investors exposure to the blockchain market

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Posted by Jimmy Aki on April 16, 2019 @ https://www.ccn.com/sec-blockchain-etfs-misleading-investors

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