CFTC Commissioner Summer K. Mersinger joins CoinDesk's State of Crypto 2023 event in Washington, D.C. and shares her reaction to bitcoin (BTC) hitting a 17-month high as investors anticipate the approval of several spot bitcoin exchange-traded funds (ETF).
We've had um the Bitcoin features um trading for quite a while and I know there's an ETF, you know, that's been been trading on that for quite some time. So, and we've seen more and more popularity. So I'm not surprised that this is, you know, causing a spike. I think uh there's a lot of interest in these products and, you know, the market's ready um for these products to be available. You know, some are really attributing this to more institutional interests, more institutional demand. How are you thinking um about the regulatory side of things with these trad five players really wanting to jump into the space right now? Yeah, I think it is um just a demonstration that, you know, there, there is institutional um interest that there's traditional finance that's interested. And so these products aren't going away. So I think, you know, there was a thought at some point by regulators that this was almost a fad that people would move on. Uh And the more we see traditional finance stepping in and, and really investing, it's just further proof that these products aren't going away, the interest and the um desire to invest money in digital assets and, uh, decentralized finance. Um, it's, it's not going to, to be a fad, uh, it's here to stay.