In some very exciting developments for the crypto spot, the US Securities and Exchange Commission has finally decided to approve two applications for Bitcoin-based listed funds. Plans will continue next month with two Bitcoin ETFs launched by Bitwise Asset Management and the VanEck project.
That's probably worth saying Happy April Fools Day!
Yes … sorry. Unfortunately, the US SEC has not made progress for two ETF applications, in fact, they have not even approved another, but it is on the Commission's list of things to do next year.
Fun fact though, we are not the only news source to try to take out the reader today, so it also has Finans Magnates saying not only did SEC approve two ETF applications, but that the price of Bitcoin rose above $ 6000 mark over the weekend as well.
With all these jokes and laughs in mind, I've been thinking about what we really know so far about Bitcoin ETF. It has been a long and winding road with many bumps in the road, but sometimes this year we may see something more about the ETFs.
Is approval around the corner?
Bitcoin ETF is anything but here at a glance, but hope is still high that it is moving for some time in 201
An interesting story that came out earlier in the year was a call to action issued by the SEC. With institutional finances getting ready to float into the market and saving cryptocurrency, SEC's chairman Jay Clayton has said about lack of surveillance as well as a consensus invest conference scam. On top of this, Clayton talked about how he is not prepared for the occurrence of a Bitcoin ETF approval this year.
"There is a problem (manipulation) that needs to be resolved before I want to be comfortable. We've seen some thefts around digital assets that make you cut your head. We care that the assets underlying the ETF are good detention and that they will not disappear. "
Earlier this year, an inquiry was issued with the hope that cable companies would provide visible data on the most common blocks in a way that there is no " there is no loss in data completeness and accuracy due to the data transformation tools and processes being used. "
US SEC said potential companies will aim for:
"Provide blockchain data to support SEC's efforts to monitor risk, improve compliance, and inform the Commission's policy on digital assets. SEC seeks information for potential sources for supporting the goal of obtaining data for the most commonly used blockchain ledgers, including the universe of available information and transaction details. "
It seemed to be just coincidence that this note came in when the Office of Compliance Inspections and Investigations (OCIE) did The cryptocurrencies top off their asset list to ensure they look deeper into the new asset class over the next year.
A report published by OCIE said: "will continue with their mandate, supplement and advise the SEC in their attempt to protect the American people."