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SEC Makes great ETF message



In some very exciting developments for the cryptocurrency space, the US Securities and Exchange Commission has ultimately decided to approve two applications for Bitcoin-based exchange-traded funds. Plans will continue next month with two Bitcoin ETFs launched by Bitwise Asset Management and the VanEck project.

It's probably worth saying Happy April Fools Day!

Yes … sorry. Unfortunately, the US SEC has not presented two ETF applications, they have not even approved it yet, but it is on the Commission's list of things to do over the next year.

Fun fact, but we are not the only news source trying to catch the reader today, as it also has Finance Magnates saying the SEC not only approved two ETF applications, but that the bitcoin price rose above $ 6,000 weekends too.

With all these jokes and laughs in mind, I've been thinking about what we actually know about Bitcoin ETF. It has been a long and winding road with many bumps in the way, but sometime this year we might see something more about the ETFs.

Is approval around the corner?

Bitcoin ETF is only here at the moment, but hope is still high that it is moving for some time in 201

9, and if everything goes to planning, it will also help increase the price of Bitcoin which will help It reached the heights that it reached back in December 2017.

An interesting story that came out earlier this year was a bidding request issued by the SEC. With institutional finances getting ready to flood the market and save cryptocurrency, the president of the SEC, Jay Clayton, has spoken about the lack of surveillance and a case of fraud at the Consensus Invest Conference. In addition, Clayton talked about how he is not prepared for the occurrence of a Bitcoin ETF approval this year.

"It's a problem (manipulation) to be solved before I would be comfortable. We've seen some digital asset thefts that scratch your head. We don't care that the assets is the basis of the ETF, one has good custody and that they will not disappear. "

Earlier this year, a call was made that cable companies would provide visible data on the most common blocks in a way that there is no "there is no loss in the completeness and accuracy of the data due to data transformation tools and processes."

US SEC said potential companies will aim to:

"Provide blockchain data in support of SEC's efforts to monitor risk, improve compliance, and inform the Commission's digital asset policy. SEC seeks information for potential sources to support the goal of acquiring data for the most widely used blockchain ledgers, including the universe of available information and transaction details. "

It seemed like a coincidence that this much attention came in as Office of Compliance Inspection and Examinations (OCIE) made cryptocurrencies at the top of their asset list to ensure they look deeper into the new asset class over the next year.

A report published by OCIE said: "will continue with their mandate, supplement and advise the SEC in their attempt to protect the American people."


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