Why the SEC will approve the Bitcoin ETF from VanEck in 2019? 5 reasons for confidence

Representatives of SolidX, VanEck and the CBOE held a meeting with the Commissioner of the SEC by Elad Roizman. They discussed the main reasons why the SEC should approve the Bitcoin ETF from VanEck, and SolidX. The new York investment company VanEck decades of experience in the traditional financial sector, under the brand of the company held a listing of hundreds of ETFs on different instruments. Representatives of the SEC outlined some points that the Commission needs to take into account when considering the application for a Bitcoin ETF.

  1. There is already an impressive size regulated derivatives market for bitcoins.
  2. Adjustable related markets — CBOE, Bitcoin futures, OTC platforms.
  3. Much less concerns about possible manipulation of price.
  4. The inclusion in the rules of CBOE oversight of potential fraud with the shares of trust funds.
  5. The launch of the ETF will contribute to the protection of investors ‘ interests.

In the course of negotiations VanEck, SolidX and CBOE SEC is convinced that the futures market can cope with the work of the ETF through the Depository trust and clearing Corporation (DTCC). It is best suited for this task, especially given the fact of participation of the CBOE in negotiations with the regulator.

Representatives VanEck drew the attention of the Commission that the approval of the ETF would reduce counterparty risks for investors. In addition, this will positively affect market stability.

Have more chances VanEck

In recent months, analysts gave VanEck and SolidX greater chances for the approval of a Bitcoin ETF. Perhaps this is due to the successful track record of the company. In addition, the company has repeatedly received the approval of the ETF from the SEC on other tools.

Not long ago, the SEC rejected ETF for Bitcoins the Winklevoss brothers just because of the strong dependence of the basic price of BTC from quotes on their own public exchange, Gemini. Then, the SEC considered that cryptocurrency exchanges do not have the level of control and insufficient liquidity to operate the ETF.

Information prepared in CCN. More data look at cryptodata.

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