The proposal to launch exchange traded Fund (ETF) tied to the bitcoins, currently has the maximum chance of approval in the history of the discussion of this issue. This is the opinion of gábor Gorbach responsible for strategy for company’s digital assets VanEck, who along with CryptoStream SolidX awaiting approval of its application by the Commission, the securities and exchange Commission (SEC).
“We walked as far as possible. I clearly understand that America wants a bitcoin ETF, and we are ready to provide it. We are waiting for the opinion of the regulator and hope for a positive decision,” said Gorbach in a conversation with Fox Business.
He also noted that bitcoin ETFs offered by companies VanEck and SolidX will be insured and physically secured bitcoins, and “satisfies all the requirements that apply to similar types of commodity funds.”
SolidX has applied for the launch of their bitcoin ETF on the new York stock exchange in March 2016, but was refused. In June of this year joined the initiative VanEck, and together they developed the tool to run on the Playground Bats BZX Exchange, administered by Chicago Board options exchange (CBOE). The SEC has not yet made a decision on the proposal, stating in August that it needed to collect additional data and to obtain the opinion of the General public.
Last month, the regulator published the presentation made at the meeting with representatives of SolidX, VanEck and the CBOE. The authors stated that they found the answers to all of the claims that the SEC previously had on the tool.
Meanwhile, analyst Alex Kruger suggests that the events surrounding crypto-platform operator of the new York stock exchange Bakkt and bitcoin ETF in the near future will be of decisive importance for the market of bitcoin.
“A likely scenario for BTC: First, the rise in the background Bakkt and renewed hopes for approval to the ETF in early 2019. Then the refusal of ETF on February 27, Grand collapse, farewell 6k, long live 4k, washing away all the weak investors. And finally, the motive of reducing the rewards in the blockchain of bitcoin in the year 2020, which will lead to growth in the remainder of 2019 and 2020,” — he wrote. Discuss current news and events on the Forum