In the space of a few weeks, the number of requests for approval of crypto ETFs has increased significantly. Yesterday, VanEck in turn filed a revised application with the SEC. This initiative comes after a strategic withdrawal of its initial request. This demand for crypto ETFs also comes against a backdrop of fierce competition with giants such as BlackRock.
VanEck Perseveres in Quest for a Crypto ETF (Despite Difficult Past)
VanEck comes from relaunch your application for a crypto ETF by submitting a demand amended to the SEC. This decision comes after the withdrawal of its initial request. It also follows a previous rejection by the SEC.
The objective of this new approach is clear: to simplify access to crypto investments. The crypto ETF proposed by VanEck would indeed allow individuals and institutions toinvest directly in the crypto market. Its regulations also offer an increased level of security, thus responding to the concerns raised by the SEC.
Regulatory developments determine the fate of ETFs
The approval of crypto ETFs is crucial, as these products promise to open the doors of cryptocurrency investing to a wider and more accessible audience. According to Galaxy Research estimates, these crypto ETFs could attract more than $14 billion during their first year. This figure could even rise to $39 billion by the third year.
The position of the SEC, however, remains a determining factor in the approval of these crypto ETFs. Certainly, the US crypto regulator has rejected previous requests. However, we note signs of change of opinion, with former SEC members expressing support for such financial products. Large companies, including VanEck and BlackRock, are working to optimize their proposals in anticipation of a change in the crypto regulatory landscape.
The competition for the launch of a crypto ETF is gaining intensity. They all carefully monitor the movements of their rivals. This gives rise to a continuous adaptation of strategies. Of course, all eyes also remain on the SEC! To be continued…
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