There have been countless applications in the US from crypto companies for the approval of a Bitcoin ETF. Till now neither one of them were approved by the SEC. But now the commissioner said that the US should have approved a Bitcoin ETF in the US a long time back. She also added that the SEC should not accept or reject applications based on what the investment is. And it is the public’s decision to invest or not, in case they approve it.
BTC ETF approval soon?
Based on what the SEC commissioner said this seems to be a very likely thing to happen. The SEC is there to approve or reject an ETF based on the terms, conditions. the company it is coming from and the legalities. But they should not be the ones to decide if a Bitcoin ETF is going to be a good investment or not for the public. The new chairman of the SEC is also quite a crypto guy having taught about blockchain at MIT. So, that also speaks in favour of the approval of the Bitcoin ETF.
The SEC commissioner also added that they have been asking quite a lot more assurances for BTC products than they do for normal equity-based things. This is not really fair and sets double standards. In fact, she was willing to approve a BTC ETF back in 2018 itself when Winklevoss twins filed for one but got rejected. But now as the markets are becoming more mature and more investors have joined the crypto markets, an ETF approval becomes important and likely.
What could a Bitcoin ETF approval mean?
When the first gold ETF was approved in 2004 the price of the metal increased straight for the next 10 years. So, if a Bitcoin ETF gets approved it will be great for the future of the cryptocurrency. It could also help turn the bear market of crypto right now into bullish and push the price past the $42k price. So, I am eagerly waiting for the SEC to approve a BTC ETF. Let’s see how long does it take for the regulators to agree with the commissioner.
What are your thoughts on the comments made by the SEC commissioner made on BTC ETF? And do you think they will approve one? Let us know in the comments below. Also, if you found our content informative do like and share it with your friends.
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