(Bloomberg) -- The U.S. securities regulator raised a series of investor protection concerns about cryptocurrency mutual and exchange-traded funds, the strongest sign yet that the world’s biggest market isn’t likely to see the products any time soon.
In a letter to two leading industry groups on Thursday, the Securities and Exchange Commission asked a number of questions on topics including the risks of manipulation, whether funds could accurately value the volatile products, and how they’d meet demands to redeem virtual currency.
It’s hardly the welcome that cryptocurrency enthusiasts were hoping for.
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