In a recent bipartisan effort, a group of U.S. House members have urged the Securities and Exchange Commission (SEC) to approve Bitcoin exchange-traded funds (ETFs). The letter, signed by 10 members of Congress, was sent to SEC Chairman Jay Clayton on May 21st, 2019.

The letter highlighted the potential of Bitcoin ETFs to provide investors with greater access to the cryptocurrency markets. It also noted that the SEC has yet to approve a Bitcoin ETF, despite the fact that the agency has approved ETFs for other asset classes. The letter argued that the SEC should approve Bitcoin ETFs in order to provide investors with greater access to the cryptocurrency markets and to promote innovation in the financial sector.

The letter also noted that the SEC has taken steps to protect investors from fraudulent activities related to cryptocurrencies, such as the agency’s recent enforcement actions against fraudulent ICOs. The letter argued that these actions demonstrate that the SEC is taking steps to protect investors while at the same time promoting innovation and growth in the cryptocurrency markets.

The letter concluded by urging the SEC to approve Bitcoin ETFs in order to provide investors with greater access to the cryptocurrency markets and to promote innovation in the financial sector. The signatories of the letter included Representatives Darren Soto (D-FL), Tom Emmer (R-MN), Bill Foster (D-IL), Ted Budd (R-NC), French Hill (R-AR), Brad Sherman (D-CA), Warren Davidson (R-OH), Tom McClintock (R-CA), Tulsi Gabbard (D-HI), and Scott Perry (R-PA).

The bipartisan effort to urge the SEC to approve Bitcoin ETFs is a positive sign for the future of cryptocurrency markets. If approved, Bitcoin ETFs could provide investors with greater access to the cryptocurrency markets, while also providing greater protection from fraud and manipulation. It remains to be seen whether or not the SEC will approve Bitcoin ETFs, but this recent effort shows that there is strong support for such a move from both sides of the aisle.