A Bitcoin ETF could finally become a reality this year, after a VanEck SEC filing. Will it?
Certainly, a Bitcoin ETF could come into operation in 2021. Specifically, if a VanEck application filed with the Securities and Exchange Commission is successful.
Interestingly, regulators have previously rejected numerous Bitcoin Method ETF proposals. Including one from VanEck in September 2019.
It should be noted, the $49 billion investment firm says that the Bitcoin market has matured. Aiming for a better infrastructure.
Director of VanEck: Something important for Bitcoin is coming up!
A Bitcoin ETF could be a reality
The truth is, a publicly traded Bitcoin fund could be on Wall Street this year. After VanEck filed an application with the U.S. Securities and Exchange Commission (SEC) The market has returned to try again.
Unquestionably, now that institutions are arriving in the midst of a strong bull market, VanEck is once again making an attempt to create a Bitcoin ETF. The market feels that this time they could finally get the nod.
Specifically, with a shift in the SEC’s watch and the rise of Bitcoin to new highs, the possibility of approval could be greater than ever.
To better understand, Jay Clayton, who has opposed the launch of a Bitcoin ETF during his tenure, resigned as SEC Chairman in early December 2020. Therefore, Treasury Secretary Steven Mnuchin will be replaced by Janet Yellen this month.
Still, there are obstacles to the approval of a Bitcoin ETF, as it seeks acceptance among regulators, and is likely to depend on who President-elect Joe Biden chooses to run the SEC.
SEC Willing to Test a Tokenized ETF
VanEck tries again
By the way, Gabor Gurbacs, VanEck’s strategist, said:
„Bringing a physical Bitcoin ETF to market in the U.S. is one of VanEck’s top priorities.
He added, „We are committed to supporting Bitcoin-centric innovation. And we continue to work with regulators and market participants to achieve that goal.
That’s why, in its SEC filing, VanEck argues that the Bitcoin market has matured. And it is „operating at a level of efficiency and scale similar in material respects to established global equity, fixed income and commodity markets.
Here, he points to the launch of Bitcoin futures contracts on major regulated exchanges. The growth of the trading volume and the arrival of the main established market makers
Also, the development of a solid Bitcoin loan market and the expansion in the availability of institutional quality custody services.
To close, do you think that this time a Bitcoin ETF could become a reality? Let us know in the comment box.
I leave with this sentence from Philip Dick: „Reality is that which, even if you stop believing in it, still exists and doesn’t disappear.