The SEC first ETF approval of Bitcoin looks promising By February 2019

The US Securities and Exchange Commission (SEC) recently notified the cryptocurrency community that delayed the decision to approve or reject VanEck Bitcoin's proposal for ETF. The final decision must be taken on February 27, 2019.

Several individuals and social media experts believe that this bloodbath in the encrypted market is due to the fact that the SEC has decided to delay the approval of this ETF.

This proposal by VanEck is very important as it could be one of the main catalysts for a future race to the encrypted market. If a fund traded in Bitcoin is approved by the regulatory agency, this would be very important for Bitcoin, which would be considered by the SEC as a profitable investment. Furthermore, other encrypted ETFs will also be approved in the future.

A fund traded on a stock exchange could be approved in February due to several reasons. First of all, MV Index Solutions has launched an index called MVIS Bitcoin US OTC Spot Index, which is based on the price reported by the OTC trading desks. The companies that will offer prices are Circle Trade, Cumberland and Genesis Trading.

With this greater transparency in the price of Bitcoin, it may be possible for the SEC to approve this ETF in February. At the same time, the Intercontinental Exchange will also launch its physically established Bitcoin futures contracts. With this greater confidence in Bitcoin in the investor community, a Bitcoin ETF is more likely to be approved.

It is important to mention, however, that Commissioner Hester Peirce has said that the enthusiasts of the crypt should be cautious about the approval of a Bitcoin ETF. The decision has not yet been taken and may not be approved in February. He stated that the SEC commissioners must be the majority to approve a crypto ETF.

In this regard, he commented:

"Do not hold your breath, I pay attention to people not to live or die when a crypto or bitcoin ETF is approved." You all know that I'm working to try to convince my colleagues to have a little more of an open mind when it comes to [crypto]. I'm not as charming as some other people. "

The SEC could approve a Bitcoin ETF in February. There are several reasons why it can be approved, but the decision has not yet been taken, which is why investors need to be cautious.