FTX CEO says bitcoin futures ETF is a ‘huge step forward’ as his crypto exchange eyes U.S. expansion

FTX CEO says bitcoin futures ETF is a ‘huge step forward’ as his crypto exchange eyes U.S. expansion

FTX CEO Sam Bankman-Fried told CNBC on Thursday that the decision to allow a bitcoin futures ETF in the U.S. is a "huge step forward," as the crypto trading platform hopes to expand its footprint in America. The which trades under the ticker 'BITO,' started trading on the NYSE Tuesday and rose more than 4% . In an interview on Bankman-Fried said the U.S. could soon see more structured products from the cryptocurrency industry popping up that draw on regulated platforms, as well as the introduction of new legal framework for cryptocurrencies. "I would not be surprised to see more regulation of the markets and exchanges, especially on the anti-market manipulation," Bankman-Fried said. FTX also hopes to expand its trading operations to the U.S., where its cryptocurrency exchange is not available. The company has offices in Chicago, Miami and other U.S. cities, but Bankman-Fried said the biggest obstacles in operating its cryptocurrency exchange platform in the country are licensing and regulations. "We're excited to work with the [Commodity Futures Trading Commission], excited to work with the SEC and with other regulators to figure out how we can have fully regulated and licensed market activity in the United States," Bankman-Fried said.