Bitcoin ETF Proposal And The Awaited SEC's Decision : Report.

Bitcoin ETF Proposal And The Awaited SEC's Decision : Report.

2018-12-07 | Robin Williams

Bitcoin ETF Proposal And The Awaited SEC's Decision : Report.

A commissioner of the United States SEC [Securities and Exchange Commission] aforementioned ‘not to hold your breath’ watching again the Bitcoin ETF [Bitcoin exchange-traded fund] decision 'delayed' by the SEC at the Digital Asset Investment 'Forum' held in Washington D.C.

Hester Peirce, also known by the name of ‘Crypto Mom’ by the community for her dissent with the SEC’s call to reject a Bitcoin ETF proposal by Cameron and Tyler Winklevoss, aforementioned that a crypto or Bitcoin ETF is “definitely attainable,” however for now, it might be years away:

“Definite possibility may well be twenty years from now or it may arrive by tomorrow. Don’t hold your breath. The SEC took a longer time to establish Finhub. It would take even longer time period to approve an ETF proposal.”

According to Pierce, she is additionally attempting to persuade her colleagues “to have a more open mind” when it involves crypto adoption, however it might take a longer time than expected.

Regarding the chance of Bitcoin institutionalization, Peirce aforementioned that the SEC sees heaps of institutional and retail interest and can act with it in  several ways. Adding further, she explained:

“I assume we require to encourage institutionalization in the crypto area. That’s not what the individuals within the ecosystem need, however i believe there are institutional people who need to be within this area ... and the best approach that we are able to provide retail investors to urge into this area is through a plane that’s a lot more institutionalized.”

When asked regarding recent SEC enforcements, “Crypto Mom” aforementioned that individuals need to comply with the law, however the govt. is duty-bound to work out whether or not the regulation is preventing individuals from realizing new or innovative ideas. Adding further, she explained:

“I want to ensure that the doors to innovation are open wide enough, and they’re not too strained by regulation,.”

In a recent interview with the SEC Chairman ‘Jay Clayton’ denied from providing any specific timeframe for a Bitcoin ETF 'arrival', however instead reiterated the SEC’s stance stating that:

“I’m not aiming to comment on temporal order or something like that, however we’ve been clear on a number of the problems that are of concern to us.”

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