According to one of the commissioners, an Exchange-Traded Fund of Bitcoin (ETF BTC) is likely to be approved by the US securities regulator, according to an article in the Congressional Quarterly political magazine.
Robert J. Jackson, Commissioner of the US Democratic Securities and Exchange Commission (SEC), said that despite several variations in ETF applications last year, the result will ultimately change.
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Exchange-Traded Fund of Bitcoin and SEC solution
According to an article in a US political journal, Robert Jackson is confident that the SEC will approve ETF BTC soon. The Commissioner said that the SEC described and previously filed several requirements for the ETF, in the performance of which the regulator agrees to approve the Exchange-Traded Fund of Bitcoin.
"In the end, I think that someone will meet the standards that we have already stated several times. I hope so (...) and I really think so"
Recall that the numerous proposals for the ETF were considered by the SEC in 2018, but they all eventually received a negative verdict or significant delays with the result.
Speaking of several previous applications with amendments to the exchange-traded fund, Jackson highlighted the efforts that Tyler and Cameron Winklevoss had made to approve the ETF in March 2017. According to Jackson, the actions of the owners of the Gemini exchange are a vivid illustration and demonstration of how the attitude to cryptocurrency is changing along with changes in the market.
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Recall that when the SEC rejected the application for the Winklevoss ETF in March 2018, the cryptocurrency market experienced a significant depreciation, there was considerable volatilityVolatility
– is a financial term that means a statistical indicator of price change. In the cryptocurrency world, it is used by traders as an indicator for managing financial risks. That is, it is a measure of trade risk and as a financial analytical tool for gambling. Details. SEC Commissioner said that the request for ETF BTC can be confirmed. In addition, another SEC commissioner, Hester M. Peirce, also disagreed with the negative decision of the commission regarding the ETF.
Editor: Yuliya Soroka