Experts in exchange-traded funds (ETFs) have dismissed the idea of a Bitcoin-linked ETF proposed by Coinbase CEO Brian Armstrong. Armstrong suggested that a Bitcoin ETF could be structured as a ‘synthetic’ ETF, which would track the price of Bitcoin without holding the asset itself. However, ETF experts argue that such a structure would not meet the regulatory requirements for an ETF. The Securities and Exchange Commission (SEC) has yet to approve a Bitcoin ETF, citing concerns over market manipulation and lack of regulatory oversight.
