The United States Securities and the Exchange Commission is in information gathering mode with regards to a Bitcoin exchange-traded fund.
ETF expert and the managing director of ETF.com, Dave Nadig, said: “It is clear the SEC is still in information gathering mode. Technically, there are deadlines, but honestly, SEC can do what they want, they can kick this down the road until they are comfortable, it is clear from what we are hearing.”
The SEC postponed the deadline on the VanEck Bitcoin ETF as the SEC are gathering more information from the public. It was previously reported that the SEC has delayed its decision on whether to approve or disapprove the Bitwise’s ETF and also requested the comments from the interested parties.
December last year, SEC commissioner Mr. Hester Pierce was dubbed the Crypto Mom by the community for her dissent with the SEC’s decision of rejecting the Bitcoin proposal made by Tyler Winklevoss and Cameron. It was said that cryptocurrency or the Bitcoin ETF is surely possible but would take a few years.
The former Chairman of Commodity Futures Trading Commission Mr. Gary Gensler said that in order to grow and prosper the cryptocurrency market, the investors must know that they have both investor and consumer protection embodied in law in case of the market manipulation among the other issues. The managing director of ETF.com said that there are chances of approval for a Bitcoin ETF by the end of this year due to its increased price.