Bitwise representatives are waiting for the SEC decision on their application for Bitcoin-ETF – the team is optimistic and expects to receive a positive response from the regulator.
Matt Hougan, head of research at the company, noted that Bitwise has never been so close to launching the BTC-ETF as it is now. The company filed an application in January, in August the regulator postponed the decision date for the proposal from Bitwise and the other two until October 13th. Hougan explained that the SEC is no longer able to defer the decision, so the answer will be unequivocal – yes or no.
Compared to what it was two years ago, now, according to the representative of Bitwise, the situation has changed a lot. There were no regulated, insured custodians in the Bitcoin market then. Now there is Fidelity and Coinbase with hundreds of millions of dollars in insurance coverage from Lloyd's of London. In addition, compared with what it was in the past, now six out of ten major crypto exchanges are regulated by NYDS and use special technologies to monitor the market. Then the market was “asymmetric”, now the trading volume reaches $ 200 million every day, and regulated futures have appeared on the market.
The involvement in the crypto industry of companies such as Jane Street Capital and Susquehanna have turned Bitcoin into one of the most effective institutional markets in the world. Hougan hopes that approving the launch of the BTC-ETF will allow retail investors access to a clear, secure tool that can help them improve their financial capabilities in the crypto industry.
