BitGo CEO: The US SEC is very likely to reject a series of spot Bitcoin ETF applications

ChainCatcher news, according to CoinDesk, BitGo CEO Mike Belshe stated that despite the optimism across the industry, the U.S. Securities and Exchange Commission (SEC) is "very likely" to reject a series of spot Bitcoin ETF applications.

Belshe mentioned that the SEC may reject the current applications on the grounds that the exchange and custody are not separated. Coinbase (COIN) has been chosen by several applicants as a potential ETF custody partner. Belshe believes that there are many unknown risks associated with the Coinbase entity.