Senators Question SEC on Crypto Exchange-Traded Product Risks

Senators Reed and Butler urge the SEC to block crypto ETPs, citing risks from poor disclosure and thin liquidity.

They argue brokers may provide incomplete and misleading info about bitcoin ETPs to retail investors.

They say bitcoin is displaying weakness and other cryptos are more susceptible to misconduct.

Coinbase's Paul Grewal argues evidence points the opposite way - ether has higher trading volume than many S&P 500 stocks.

Grewal says crypto is an important part of updating the financial system.