Categories: Market Overview

Bitcoin ETF Will Likely Be Approved Next Year: Asset Manager

The focus on a Bitcoin ETF has shifted from its possibility thereof to the timing of an imminent approval. With several predictions from different quarters already, recent statements are suggesting 2019 to be a more realistic date of approval. One of the most pertinent questions surrounding Bitcoin today revolves around the anticipated ETF approval by the US Securities and Exchange Commission. While most participants now see a Bitcoin ETF approval to be imminent, it is the actual timing that majority are currently concerned about.

Simply put, an ETF is any fund (mutual, hedge, whatever)that is traded on a listed exchange. ETFs are mostly trading SEC or CFTC regulated assets and as at the time of writing, many or most cryptos are not recognized as any of these. So a fund trading them would have to register its shareholders’ interests in the fund as securities while the traded assets remain unregulated.

It is the unregulated nature of these digital assets that are considered to majorly influence the reticence of the SEC to allow its approval. Historically, a number of applications have been submitted to SEC seeking approval of such funds. Popular among these applications are the two submissions by the Winklevoss twins, both of which have been denied in March 2017 and July 2018 respectively. This has not deterred other submissions from appearing on SEC’s table, albeit with revised and supposedly improved details.

However, considering the details of the VanEck/SolidX ETF proposal for which SEC has set a review date of September, the duo expects another shift in the deadline, hence suggesting a more realistic ETF approval date to be sometime in 2019. While the speculation continues, investors and market makers appear to be sitting on their hands as several predictions keep appearing as to the next destination of bitcoin. In the end, the buck stops at SEC’s table while the market remains in critical anticipation.

Bitcoin ETF Will Likely Be Approved Next Year: Asset Manager, CCN, Sep 04
AddThis Website Tools
The FxPro News Team

This team of professional journalists announces the most interesting and influential articles from the major financial media as a brief summary. All such news may have sufficient potential to affect the course of trading assets.

Share
Published by
The FxPro News Team
Tags: aud

Recent Posts

Video: Dollar and Indices are trying to find footing after the fall

The dollar experienced a sell-off but rallied back up by the end of the week.…

5 hours ago

What is next: BoJ, Fed, SNB & BoE Rates

The new week will be packed with economic data and decisions from key central banks.…

8 hours ago

Dollar attempts to rebound after oversold conditions

Despite economic factors working against the dollar, its oversold condition helped it this week or…

9 hours ago

USDCAD Wave Analysis – 14 March 2025

USDCAD: ⬇️ Sell - USDCAD reversed from key resistance level 1.4500 - Likely to fall…

9 hours ago

Solana Wave Analysis – 14 March 2025

Solana: ⬆️ Buy - Solana reversed from the long-term support level 113.75 - Likely to…

9 hours ago

Adobe Wave Analysis – 13 March 2025

Adobe: ⬇️ Sell - Adobe broke round support level 400.00 - Likely to fall to…

1 day ago