Nasdaq head says ‘too early’ for a bitcoin exchange-traded fund

Adena Friedman, President and Chief Executive Officer of Nasdaq, said Monday it would be too early to consider exchange-traded funds (ETFs) with respect to cryptocurrencies because of its unregulated nature.”

“The American Securities and Exchange Commission (SEC) has determined that it is still too early to consider exchange-traded funds (ETFs) with respect to cryptocurrencies because of its unregulated nature.” Friedman said at the annual World Government Summit, taking place in Dubai.

During a session entitled ‘How to Tame a Volatile Market’, Friedman shared her insights on a range of topics including the role of government in market movements and cryptocurrencies.

“The rapid advancement of capital markets in the GCC region is hugely beneficial not just to local investors but also to international investors looking to get more involved in the stocks traded here,” the Nasdaq official said.

Nasdaq serves as a technology provider to 90 markets in the world and a technology partner to many of the exchanges in the Middle East, including Nasdaq Dubai and Tadawul in Saudi Arabia.

Friedman said: “We’ve been working for many years in the region to advance the markets and their technology to ensure they provide a fair, transparent marketplace. As their economies continue to grow and expand, their capital markets are also expanding with them.”