They should be considered regulated, because there is some value underlying them (the forex), plus they're traded and offered to unsophisticated investors etc.
A BTC ETF could maybe be the same.
Similarly shares in a farm would be regulated, but farms (or cattle :) ) would not be. Otherwise the SEC ends up regulating all known trade and/or value production...
A BTC ETF could maybe be the same.
Similarly shares in a farm would be regulated, but farms (or cattle :) ) would not be. Otherwise the SEC ends up regulating all known trade and/or value production...