SEC Commissioner: Bitcoin ETF Approval Is …
SEC Commissioner: Bitcoin ETF Approval Is A Matter Of Time
An exchange-traded fund (ETF) pegged to bitcoin will eventually get approval, one of the four commissioners of the US Securities and Exchange Commission (SEC) is sure. This is evidenced by the details of an interview, preparing for release in the political magazine Congressional Quarterly, published on Twitter by a professor at the New York Business School. Leonard Stern by Drew Hinks.
In it, the only representative of Democrats in the SEC, Robert Jackson, says that, despite the SEC’s refusals to launch bitcoin-ETFs, issued last year, the regulator’s position on this issue may change over time..
“Do I think that ultimately someone will be able to meet the standards we set? I hope so, and I think so, ”the publication says..
Separately, Jackson highlighted the proposal of Cameron and Tyler Winklevoss, the refusal of which, he said, was a reflection of the SEC’s doubts about the ability of its initiators to provide protection for investors..
“I believe the Winklevoss Trust case that we had to deal with last year was not complicated. A situation emerged in which the risks of manipulation and potential damage to investors were enormous. The liquidity problems were very serious, “he said..
At the same time, Jackson is not ready to confirm which of the proposals will be accepted by the SEC, however, the application of VanEck and SolidX, issued jointly with the Cboe exchange, is one of the most promising.
“I am glad that market participants have started to put forward their own ideas. Whether we think any of them are really suitable for investor protection, I don’t know, but I’m sure the earlier proposals weren’t even close, he added. – Getting the approval of the deepest and most liquid capital market in the world is difficult, as it should be. When I took this job, I thought about my parents. Would I like them to invest in this ETF? No. Never. I wouldn’t be sitting here if my dad invested in this ETF, because I take very seriously the issue of US approval for any investment product. I’m not going to give permission until I get all the answers. “.
Earlier well-known speaker and member of the crypto community Andreas Antonopoulos also noted that ETF approval is a matter of time. At the same time, Binance CEO Changpeng Zhao recently said that Bitcoin ETF is not a critical condition for the further development of this space..
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