Dec 31, · Regulators have previously rejected numerous bitcoin ETF proposals, including one from VanEck in September But bitcoin's surge to new highs in - . Oct 08, · Optimism Surrounding SEC's Bitcoin ETF Approval Could Boost Bitcoin Price Massively By Mid over recent months has shifted to the possibility of a Bitcoin ETF being approved . Sep 23, · SEC Approval of VanEck Bitcoin ETF Uncertain. In May , the SEC again delayed making a decision on the VanEck bitcoin ETF. So far, it doesn’t appear that approval will occur anytime soon. Outgoing SEC commissioner Robert Jackson, who’s a crypto skeptic, admits that the agency is divided over how to regulate crypto.
Bitcoin etf approval 2019Bitcoin ETF Approval: Timeline and Estimated Approval Dates - Bitcoin Market Journal
The most likely deciding factor is a viable shared surveillance framework to counter market manipulation. Each listed company or institutional fund that invests in Bitcoin drags the regulatory regime one step closer to the inevitable.
This may be coming to pass. Mike McGlone, Senior Commodity Specialist at Bloomberg, believes a more hands-on presidency, which may be the case under Joe Biden, could make all the difference. A potential Biden presidency should shine favor on further appreciation in the price of Bitcoin.
New leadership may change the hands-off policy of the Trump admin. Instead, he said that more SEC commissioners like Hester Pierce—who voiced her support for a Bitcoin ETF in and was recently sworn in for a second term —would make the biggest difference.
If bitcoin were an element, would an ETP approval be elementary? His post, published on October 1, has received likes to date, suggesting that many in the crypto community agree with his take. Read on the Decrypt App for the best experience. For the best experience, top crypto news at your fingertips and exclusive features download now. Features Long Reads. By Adriana Hamacher 8 min read. Pressure from investors and a viable framework to counter market manipulation are two factors that could swing opinion.
This is rooted in the fact that rather than deny many of these applications outright, the SEC has delayed its decision-making. Then, the SEC announced that it would be delaying the decision to September ; when the delay was announced, it was barely felt in the markets. The SEC continued to postpone its decision on a Bitcoin ETF further and further until finally a due date was set on the decision for several weeks from now—February 27th.
No reason was given for the withdrawal at the time it was made. And so it was. However, the re-filing may mean many more months of delays on the decision to approve or deny the ETF. The new filing has not yet been published in the Federal Register, which means that an official timeline has not been set to receive a decision on the timeline. Once the filing is added to the Register, however, the SEC will have no more than days in total to make a decision on the proposal; if it is added soon, a decision should be made around October of this year.
Indeed, the global financial scene has shown quite a bit of support for a Bitcoin ETF. The public has spoken! Bitcoin is compatible with the U.
Even if support for a Bitcoin ETF is absolutely overwhelming, how will the creation of one affect the cryptocurrency markets?