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28/04/ · Some bitcoin watchers believe could finally be the year a bitcoin ETF is approved thanks to the Senate’s confirmation of Gary Gensler to lead Author: Maggie Fitzgerald. 31/05/ · And in February of this year, the Purpose Investments Bitcoin ETF gained regulatory approval in Canada, becoming the first Bitcoin ETF in mainland North America that allows investors to hop in and out of the asset as they see fit. 25/07/ · A bitcoin ETF may not be approved by the SEC until despite surging interest, according to a fund provider that’s already been through the process Matthew Fox Jul. 25, , AM. ETFs have been approved for gold, silver and other precious metals where the underlying spot markets are demonstrably inferior to Bitcoin; there have been many allegations of manipulation related to other commodities that already have ETFs, Estimated Reading Time: 5 mins.

Follow us on Twitter or join our Telegram. American regulators are unlikely to green-light Bitcoin ETFs Exchange-traded Funds this year, but a China-based expert says that once approved, crypto ETFs will usher in a multitude of benefits to the industry. Matthew Graham, CEO of the China-based advisory company Sino Global Capital and General Partner at Liquid Value , spoke on the matter during an AMA ask me anything session hosted last week by TokenInsight , a token data and rating agency.

Graham was discussing the fact that regulators have rejected Bitcoin ETF on multiple occasions in the past, and was commenting on the possibility of a crypto ETF gaining regulatory approval in He said that the slowdown could be due to the conservative nature of the institutions in the United States, regulatory bodies in particular, and the slow pace at which they operate. Crypto ETFs were a hot topic of discussion last year, with observers eagerly observing the deliberations of the Securities and Exchange Commission SEC.

If and when they do get the go-ahead, said Graham, an approval could lead to an influx of institutional capital. For instance, a crypto ETF approval would symbolize institutional acceptance. But while this could very likely set off a bull rally, per Graham, an ETF green light would not directly stimulate crypto demand. Instead, approval would likely represent a step in the long institutionalization process.

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Those questions are currently before the Securities and Exchange Commission which is being asked in at least nine applications for the green light to launch what could be the first cryptocurrency ETF in the country. But a decision may have to wait at least until mid-June. The SEC this week delayed rendering a decision on a bitcoin ETF from asset manager VanEck that, if cleared, would be listed by CBOE Global Markets.

The Commission said it was „appropriate“ to take more time for consideration. The arrival of a bitcoin ETF in would follow this month’s start of trading in shares of Coinbase , the first cryptocurrency exchange to go public, as well as expanding acceptance of bitcoin as payment methods by companies including electric vehicle maker Tesla. Meanwhile, investment bank JP Morgan is preparing to introduce its first bitcoin fund for wealthy clients.

These and other bitcoin developments may signal the increased likelihood that a bitcoin ETF will gain approval, but the SEC has rejected other attempts. Institutions „are getting in from hedge funds on Wall Street to PayPal, to Venmo, to Visa. So [the SEC] can’t really ignore this because the market is deciding that they want to be involved,“ Ian Balina, founder and CEO of Token Metrics, a data-driven cryptocurrency investment research platform, told Insider.

Here are three hurdles and tailwinds that experts say stand in front of the first US bitcoin ETF:.

bitcoin etf approval

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The first attempt to list a bitcoin ETF on a US exchange dates back to mid when Cameron and Tyler Winklevoss announced their plans for the Winklevoss Bitcoin Trust ETF. Since then, we have had several attempts by a range of sponsors to get a bitcoin ETF approved. In this article, you will find the timeline and estimated approval dates for bitcoin ETFs that bitcoin investors should watch. In early , bitcoin advocates Cameron and Tyler Winklevoss first proposed the idea of a publicly-traded bitcoin ETF called the Winklevoss Bitcoin Trust and followed up with a filing on July 1, This change in their filing led to further delays with the SEC moving their decision date to early At the start of , just before the big bitcoin bull market started, bitcoin holders were eagerly awaiting the potential approval of the first-ever Bitcoin ETF on US soil.

However, this exercise was futile as the SEC rejected the Winklevoss Bitcoin Trust ETF in March , citing concerns over the unregulated nature of the bitcoin sport market, on which the ETF would be based. First, the exchange must have surveillance-sharing agreements with significant markets for trading the underlying commodity or derivatives on that commodity. And second, those markets must be regulated.

On July 28, , the SEC rejected the Winklevoss Bitcoin ETF for a second time, stating concern over potential market manipulation and a lack of trade transparency in the bitcoin sport market as the main reasons for the rejection. Almost a month later, on August 22, , the SEC announced that it has rejected several more Bitcoin ETFs.

bitcoin etf approval

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By Stefania Stimolo – 27 Jul Coinbase believes that approval of the Bitcoin ETF by the US Securities and Exchange Commission SEC is a matter of time , probably by the end of At the moment, Bitcoin ETFs are still a hot topic as the SEC has continued to postpone its decision, thus not yet taking any position on the matter.

In alone, the SEC postponed its decision on 15 March and then on 17 June. Not only that, the umpteenth postponement was only a fortnight ago, with the now-classic request to proponents to send further comments on how an ETF on Bitcoin could be susceptible to manipulation and how they intend to prevent fraudulent acts and practices. Yet, despite these constant postponements, Coinbase believes the SEC versus Bitcoin ETFs situation may turn out to be a success soon.

The first listed crypto-exchange, remains positive that Bitcoin ETFs will prevail, despite being aware that at least a dozen applications ready to list them have been rejected by the SEC. This positive attitude is due to the fact that institutional demand for bitcoin is growing and expanding. And indeed, institutional giants like Fidelity and VanEck are waiting at the edge to approve bitcoin ETFs.

Not only that, recently, new applications have been filed with the SEC on the same subject. This is the case of Global X Digital Assets which is on the approval list for its Global X Bitcoin Trust ETF to be listed on the Cboe exchange. Grayscale Investments has also joined the crypto ETF mission in the US, in partnership with BNY Mellon.

The idea would be to offer services related to their Bitcoin Trust ETF, perhaps being able to apply to the SEC which has already approved the GBTC and turn it into a bitcoin ETF. In the midst of all the relevant initiatives, Coinbase has only expressed its favourable opinion and confidence towards early approval.

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Crypto exchange Coinbase believes that the US SEC is slowly warming up to Bitcoin derivative products as the market continues to expand with higher institutional participation. With institutional demand for Bitcoin gathering pace, several global regulators have given a nod for Bitcoin ETF. However, the US SEC is dragging around the case with no clear stand on the matter. Thus, Coinbase adds that Bitcoin ETF approval by the SEC is likely by the end of This view of Coinbase appears in the forthcoming report for institutional players, reports Decrypt.

The report notes:. But it predicts that it will happen this year or at most by the next year of Top financial players in the US have been juggling around since late to introduce a Bitcoin ETF. However, the SEC has rejected it multiple times on the grounds that Bitcoin is subject to manipulation. Earlier this month, Hester Pierce — the crypto-friendly SEC commissioner popular as a crypto mom — noted that the Bitcoin ETF is overdue.

During a CNBC interview, when asked about the Bitcoin ETF approval she said:. With each passing day, the rationale that we have used in the past for not approving seems to grow weaker.

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Paris-based Melanion Capital, a derivatives and computer-driven fund manager, has reportedly received regulatory approval to launch an exchange-traded fund ETF that tracks Bitcoin-related stocks for investors across the European Union EU. However, the fund will not be a bitcoin ETF since it won’t invest in or hold BTC directly. According to the Financial Times , Melanion’s ETF proposal received approval from French regulators who ruled that it meets key EU standards, known as Ucits, meaning it will be available in all of the union’s 27 member states.

The Paris-based firm’s ETF has become one of the first bitcoin-related funds to receive the Ucits rating. Investors in the EU are often skeptical of putting their money into non-Ucits funds since the rating provides high levels of investor protection. The Melanion BTC Equities Universe Ucits ETF will be equity-based rather than bitcoin-based. It will reportedly track a basket of up to 30 stocks, including mining firms Argo, Riot, HIVE, and investment firm Galaxy Digital and broker Voyager Digital.

Melanion said the stocks making up the fund would have an alleged high correlation to the bitcoin market price. However, the fund won’t be holding bitcoin directly. The weighting of the fund will be determined by German fintech Bita, a software provider for calculating financial indexes and quantitative investment strategies. Melanion’s ETF will reportedly charge a 0.

The listing date has not been shared. Press Releases.

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Ben Slavin, Global head of ETFs at the Bank of New York Mellon BNY Mellon has confidence that a Bitcoin Exchange Traded Fund ETF shall be in place before the end of The ETF specialist acknowledged that the bank was receiving a tremendous amount of demand from its asset management and institutional clients for services related to cryptocurrencies. The bank was thus exploring ways in which it could have a bitcoin ETF approved to enhance its management of the millions of dollars in the products it serviced for clients.

He noted that fear for the regulatory framework in the U. Earlier in the month, Grayscale Investments entered into an agreement with the bank for the provision of asset servicing for its GBTC trust. In the agreement, the bank was to provide the company with fund accounting and administrative services beginning October 1 st , as well as provide transfer agency and ETF services for Grayscale Bitcoin trust upon its conversion to an ETF.

Grayscale made its latest Bitcoin ETF application to the SEC in June this year. According to a forthcoming report for institutional investors released by Coinbase, the crypto giant seems to also believe that a Bitcoin ETF before the end of is inevitable. News Blockchain News Exchanges News Ethereum ETH News Ripple XRP News Tron TRX News Press Releases Sponsored Articles Bitcoin News Crypto Prices Crypto What Are Cryptocurrencies?

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10/06/ · Bitcoin ETF hopefuls likely have a little longer to wait.. The first exchange-traded fund based on the flagship cryptocurrency may not see approval for . 05/04/ · Bitcoin ETF Approval: Timeline and Estimated Approval Dates. The first attempt to list a bitcoin ETF on a US exchange dates back to mid when Cameron and Tyler Winklevoss announced their plans for the Winklevoss Bitcoin Trust ETF. Since then, we have had several attempts by a range of sponsors to get a bitcoin ETF approved.

A commissioner with the U. Securities and Exchange Commission SEC , Hester Peirce, talked about the prospects of the SEC approving a bitcoin exchange-traded fund ETF in an interview with CNBC on Thursday. However, the industry is hopeful that things will change this year since the SEC has a new chairman, Gary Gensler, who taught crypto and blockchain courses at the Massachusetts Institute of Technology MIT. Commissioner Peirce described:.

I thought that if we had applied our standards as we have applied them to other products, they would already have approved one or more of them. With each passing day, the rationale that they have used in the past for not approving seems to grow weaker. The commissioner has previously stated that she sees a double standard at the SEC when it comes to bitcoin products. She explained that the SEC is asking exchanges and would-be bitcoin ETF sponsors for more assurances than what it asks for traditional, equity-based products.

Noting that the bitcoin market now looks more like an established market that has more participation from institutional and mainstream retail investors, Peirce remarked:. I think that will continue … as people are looking to diversify their portfolios, I think people are also likely to look more to the crypto space. Peirce is not alone. Investment banks and fund managers are seeing the same trend and a growing number of them have begun investing in bitcoin or offering crypto services to clients, including Goldman Sachs, Morgan Stanley, and Citigroup.

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