Bitcoin-ETF will inevitably be approved in the end, Commissioner SEC

said

An exchange-traded fund (ETF) tied to Bitcoin (BTC) will eventually be approved, one of the four commissioners of the US Securities and Exchange Commission (SEC) is sure. This is evidenced by the details of the interview being prepared for release in the political magazine Congressional Quarterly, published on Twitter by the professor at the New York Business School. Leonard Stern Drew Hinks.

In it, the only representative of the Democrats in the SEC, Robert Jackson, states that, despite the SEC's refusals to launch Bitcoin-ETF , made last year, the position of the regulator on this issue may change over time.

“Do I think that ultimately someone will be able to ensure compliance with our standards?” I hope so, and I think so, ”the publication says.

Separately, Jackson singled out a proposal from 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 to investors.

“I believe that the case of the Winklevoss Trust, which we had to deal with last year, was not complicated. There was a situation in which the risks of manipulation and the potential damage to investors were enormous. Liquidity problems were very serious, ” he said.

At the same time, Jackson is not ready to say 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 began to put forward their own ideas. Whether we consider that any of them is really suitable for the protection of investors, I don’t know, but I’m sure that earlier proposals were not even close to this.

Getting the approval of the deepest and most liquid capital market in the world is difficult, as it should be. When I got a job, I thought about my parents. Would I want them to invest in this ETF? Not. Never. I would not be sitting here if my father had invested in this ETF, because I am very serious about approving the United States for any investment product. I am not going to give permission until I get all the answers. ”

Andreas Antonopoulos, a well-known speaker and participant in the crypto community, also noted that ETF approval is a matter of time. However, the CEO of Binance Changpeng Zhao recently announced that Bitcoin-ETF is not a critical condition for the further development of this space.

Publication date 09.02.2019
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