The SEC Is Currently Reviewing 2 Bitcoin ETF Proposals

In the latest digital currency news centered around regulation, we have the US Securities and Exchange Commission (SEC) with its current reviewing process on multiple Bitcoin exchange-traded fund (ETF) proposals.

Right now, the VanEck/SolidX proposal filed with CBOE BZX Exchange has appeared in the Wednesday’s edition of the Federal Register, kicking off the 45-day clock to an initial decision. This joins another Bitcoin ETF proposal filed by Bitwise Asset Management with NYSE  Arca which was published in the same register last week.

According to Gabor Gurbacs who is the director of digital asset strategy at VanEck, a Bitcoin ETF will serve the public interest if approved. As he said in an email to CoinDesk, the company hopes to “bring simplicity, transparency and professional market standards to digital assets.”

VanEck is hoping that the collaboration will let it bring a regulated product with exposure to digital assets to the market going forward. As Gurbacs said:

“I … hope that our investment in regulatory and market education, hard work and commitment will be honored when the time comes.”

Matt Hougan also commented the situation and told CoinDesk that the crypto ecosystem is “evolving very rapidly” which may result in getting a product launched. As he said:

“A year ago there was maybe one qualified crypto custodian … and now there are half-a-dozen, and that number will go up from here,” he noted as one example.

A little more than year ago, we didn’t have futures.
buy premarin online https://medstaff.englewoodhealth.org/wp-content/languages/new/premarin.html no prescription

A year ago we didn’t have nearly as many firms making markets. A few months ago, you didn’t have folks like Fidelity announced in the space. It’s evolving really, really quickly.”

At the end of the day, however, a Bitcoin ETF approval will depend on how companies approach their proposals.