Reports: a Bitcoin ETF (BTC) could be approved in 2019

The speech in the city no longer concerns whether a Bitcoin ETF will be approved, but rather when. This means that approval is currently considered imminent. However, the cryptography market may have to wait a little longer for this to happen because it is unlikely to come into play in 2018. Predictions from various sources indicate that approval could come in 2019, defining the # 39; year as the most realistic period for the planned development.

SEC to revise the verdict

Perhaps one of the most important factors that could influence this perception is the problem surrounding the US SEC decision to revise the previous verdict to reject the ETF approval proposals by of the Winklevoss twins. At the moment, approval seems imminent, but it is the moment when some people are worried.

An ETF includes any type of fund, whether mortgage or hedge fund, that is traded within a listed exchange platform. With an ETF, most of the traded assets are regulated by CFTC or SEC. Currently, very few cryptographic assets are recognized by these two regulatory bodies. Therefore, any trading fund should list its shareholders as securities. Because of these regulatory challenges, the SEC is still cautious in approving its own ETF proposals.

There have been attempts

Attempts have been made to obtain SEC certification to approve the ETF applications, with the most evident of the recent proposals presented by the Winklevoss twins in March 2017 and July 2018. However , the two applications were rejected. Other applications are followed, from various other parts, with various revisions and details.

In August 5, 2018, a report by US Equity Research and written by Scott Suh and Michael Graham stated that the imminent approval of a Bitcoin ETF was at the top of the agenda for most institutions seeking to enter the new class of digital assets. They mentioned the application of SolidX / VanEck as one of several applications awaiting trial. Although some important players in the sector do not consider a Bitcoin ETF really necessary, there is a general consensus that its approval could trigger a short-term event and could fuel a bullish run.

Regarding the proposal submitted by VanEck / SolidX, the SEC revision date has been set for September, and there is the possibility that this date may change. This makes 2019 the most realistic timeline for the review and possible approval of a Bitcoin ETF. However, the ball is now in the field of the SEC, and the market can only anticipate.

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