A senior official of the SEC, the United States declared that soon it may happen adopting a Bitcoin ETF.
After a couple of previously rejected applications, there appears to be hope to receive SEC approval to trade ETFs. This information was leaked to the press after the comments of SEC Commissioner Robert Jackson Jr., in his interview for Congressal Quarterly.
Although the news was not supposed to be available to the public until February 11, it was quickly circulated on Twitter, drew Hinks, collaborating with crypto-Blockchain startup Athena.
In an interview Jackson stated that needs to be done a lot of work to get the US SEC to approve the proposal, which will be open to all investors.
According to him, the reason being that “after the printing of the Commission on securities and stock exchanges of the USA will be on the investment, making them accessible to ordinary moms and ordinary investors, there is a risk that the Americans might get hurt.”
As he claimed previously submitted application for a Bitcoin ETF strategies do not contain a high level of protection of investors, to convince the SEC to give the green light to the proposal. It was said in the proposal Winklevosses for Bitcoin ETF last year, as “the risk of manipulation was huge.”
Green light for Bitcoin ETF is now more likely
Speaking about the current state of Affairs, Jackson suggested that new applications filed with SEC, now solve the problem, noted earlier, regulatory bodies, and are more likely to obtain approval.
“I am pleased that market participants have started to come up with new ideas. I don’t know if we can find someone who really protects investors. In the end, I think someone will meet the required standards that we outlined there. I hope so and I think so,” Jackson said.
The SEC currently has two proposals on the Bitcoin ETF: NYSE Arca Bitwise and submitted in early January, and a re-application from VanEck, SolidX and the CBOE at the end of January.
Although Jackson didn’t exactly say whether or not one of the current proposals the green light, his comments give us hope that the approval will happen sooner or later.
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Tags: Bitcoin Bitcoin ETF