In recent years, the Securities and Exchange Commission (SEC) has fiercely opposed the creation of a Bitcoin Spot ETF. Some exchange-traded fund (ETF) specialists believe that this trend is not going to change anytime soon.
No Chance of a Spot Bitcoin ETF in the U.S.
The issue of bitcoin exchange-traded funds is a snag that divides the SEC and the crypto industry. The regulator was particularly unfavorable to their creation. Thus, all the steps taken in this direction have not succeeded because the SEC has simply blocked them.
During the Bitcoin 2023 conference, held last week, Jan van Eck was asked about the issue. In particular, whether the position of regulators could possibly change. His answer has the merit of being expeditious. ” No chance ! »he notably dropped.
If the answer of the boss of the investment and asset management company VanEck is so pithy, it is not for nothing. So far, no company that has filed such a procedure with the SEC has been successful.
The most recent, Grayscale, has also sued the regulator. Indeed, the company felt that the SEC’s denial is deeply discriminatory. Because the risk of market manipulation with spot Bitcoin ETFs that she mentioned is inconsistent according to her. This is because other sectors, presenting the same level of risk, prevailed.
For the time being, justice must still settle the debate. But Jan van Eck considers that even in the event of a victory against the SEC, the crypto industry is not out of the rut. ” Even if SEC loses lawsuit against Grayscale, she will only drag her feet. So I don’t think that will happen in the next year and a half.”the official said.
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