As per the report, local politician Takeshi Fujimaki pointed out during the meeting that soon a crypto-based ETF might get approved in the United States by the Securities and Exchange Commission (SEC). He further cited both positive and negative statements released by SEC’s commissioner Hester Peirce.
Though it does not seem FSA is in the same boat of enthusiasm for ETF. An FSA representative presented opposing views during the meeting and claimed that cryptocurrencies such as bitcoin (BTC) lack intrinsic value, resulting in unbearable price volatility. To which Fujimaki replies by reiterating his support of ETF, as it could diminish the volatility of cryptocurrencies, making them an easier investment.