RATE Group | Anonymous Sources Suggest Bitcoin ETF Approval Is Imminent
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Anonymous Sources Suggest Bitcoin ETF Approval Is Imminent

24 Oct Anonymous Sources Suggest Bitcoin ETF Approval Is Imminent

Posted at 12:18h in Bitcoin News by

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Representatives of the investment management firm VanEck, blockchain company SolidX and CBOE have met with officials of the Securities and Exchange Commission (SEC) to inform them that the organization’s previous concerns regarding their Bitcoin exchange-traded fund (ETF) applications have been addressed.

The application for the VanEck SolidX ETF was initially rejected in early August, and both companies are looking to garner the approval they need.

Why a “Yes” Might Arrive Soon

In addition, VanEck has also produced a supporting document highlighting why their ETF should receive a green light.

These reasons include:

  1. There now exists a significant regulated derivatives market for Bitcoin.
  2. Relevant markets – CBOE, Bitcoin futures, OTC desks – are regulated.
  3. Concerns around price manipulation have been mitigated, consistent with approval of prior commodity-based ETPs.
  4. CBOE’s rules are designed to surveil for potential manipulation of trust shares.
  5. It promotes investor…

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