After a long period of uncertainty, the SEC has finally started the process of considering an ETF for Bitcoins. According to sources, the first queue is a request from the Bitwise — exact this application, the Commission published in the fed register, 15 Feb. There is a high probability that in the near future, the Commission on securities and stock exchanges of the USA will approve the debut ETF on Bitcoin. Perhaps it will be the product from NYSE Arca, or Bitwise Asset Management. We will remind that after the official publication in the register the Commission has 45 days to approve or reject the application.
NYSE Arca and Bitwise applied in early 2019, but because of the shutdown of the US government no progress on this issue was not. It seems now everything is back to normal, as February 15 in the registry of the Federal reserve was amended that say about the upcoming process.
Of course, it will take more than one day, and on the way there will be obstacles, but it is likely that the Bitwise application will receive the approval of the Commission. At least, it is hoped the head of exchange-traded funds company John Hyland.
Though it is impossible to speak confidently about the approval of our application 19b-4, but clearly it can be argued that the Bitcoin ETF will definitely be approved this year.
Although many companies are also trying to push their applications for the approval of the ETF, the proposal Bitwise thought out better than others, and takes into account the multiple observations of the Commission. The company was founded in 2017 in San Francisco, it consists of professionals with years of experience in asset management.
Whether Bitwise founder on the part of the ETF on Bitcoin this year? We will get the answer very soon. More data look at cryptodata. Also look into the rating of the coinsin time to see the market reaction to the decision on the open investment Fund on BTC.
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