Bitcoin ETF is Coming: Hopeful US SEC Chief Says Approval Only a Matter of Time

A Bitcoin ETF is on its way – really. This according to a U.S. Securities and Exchange Commissioner who thinks a Bitcoin ETF will eventually become a reality. Commissioner Robert J Jackson Jr. expressed optimism about a Bitcoin ETF being on the horizon during an interview with Congressional Quarterly. It wasn’t slated to be made public until Feb. 11. Regardless, details of the interview are already out after being leaked. Twitter user Drew Hinkes, from an outfit called Athena Blockchain, relayed the news via the social media platform.

Jackson told the Congressional Quarterly about how hard it is to get the SEC’s blessings of the SEC when it comes to investment vehicles like exchange-traded funds. He said: “Getting the stamp of approval from the deepest and most liquid capital markets in the world is hard, and it should be. Once we put the stamp of the United States Securities and Exchange Commission on an investment; once we make it available to everyday mom and pop investors, we are taking risks that Americans can get hurt.”

Jackson also addressed the various Bitcoin-related ETF applications the SEC has receives. This includes those from the Winklevoss twins – Cameron and Tyler – and the Cboe. “I’m happy to say market participants have begun to come in with ideas. Whether or not we’re going to find one that really protects investors I don’t know, but I do know that that case wasn’t especially close.” The Cboe at the end of January resubmitted its application for its VanEck SolidX Bitcoin Trust, which would allow wealthy traders and institutions to invest in bitcoin through a convenient — and familiar — investment vehicle.

Bitcoin ETF is Coming: Hopeful US SEC Chief Says Approval Only a Matter of Time, CCN, Feb 08