Bitcoin (BTC), Cryptocurrency, Exchange-Traded Fund-With Bitcoin maintaining its rally above $ 4,000 to end the first week of 2019, there is a brewing of optimism for both investors and industry enthusiasts.
While it was a year for Bitcoin and altcoins, with more than ninety percent, investors were able to establish a strong desire in pushing for a Bitcoin Exchange-Traded Fund. Spearheaded by the Winklevoss twins and other financial institutions such as New York based VanEck, the proposal for a regulated BTC ETF was put in front of the United States Securities & Exchange multiple times, failing to gain approval .
Bitcoin-based ETF. In the past week the focus has shifted beyond the borders of the U.S. According to a rumor development out of Bloomberg, as previously reported on EWN, Japan may become the inaugural country to allow creation of the cryptocurrency Exchange-Traded Funds. Japan's Financial Services Agency (FSA) has been set up for the purpose of the crypto. a source of financial innovation.
However, according to the most recent update by CoinTelegraph, the Japanese FSA is denying interest in the creation of Bitcoin or altcoin ETFs, contradicting the early reports and information provided by the anonymous sources. In response to questioning by CoinTelegraph, the regulatory agency gave a brief and a diplomatic statement on the issue,
"At this moment, we are not exploring an approval of ETFs based on crypto assets."
Rumors leaked to Bloomberg.
While the FSA statement is technically denies exploring a Bitcoin Exchange-Traded Fund, it does not go so far. Instead, in the coming months, with the exception of the regulatory period.
Since the middle of 2018, crypto investors have looked at the growth of the crypto markets. If you are a member of the group, you will be able to comment on how you would like to respond to such a development, the common thought is large-capital investment companies are waiting for more regulation before putting money into cryptocurrency.
The Winklevoss twins, both long-time Bitcoins supporters and co-founders of crypto exchange Gemini, have been especially active this week in raising awareness for ETF approval. On Monday, the twins Participated in an AMA on Reddit, covering a variety of topics related to Bitcoin and cryptocurrency. However, the dominant through-line
In addition, the twins announced a new marketing campaign by Gemini, focusing on the need for reciprocal regulation in the crypto markets.