RATE Group | Retail Demand May Force the SEC to Approve a Bitcoin ETF
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Retail Demand May Force the SEC to Approve a Bitcoin ETF

08 Mar Retail Demand May Force the SEC to Approve a Bitcoin ETF

Posted at 14:48h in Bitcoin News by

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Several investment firm executives have debated the likelihood of the U.S. Securities and Exchange Commission (SEC) licensing a U.S.-based Bitcoin (BTC) exchange-traded fund (ETF) during a CNBC broadcast on March 7.

The discussion follows the SEC’s recent rejection of its last pending Bitcoin ETF application. 

Wilshire Phoenix had first filed the application for its proposed ‘United States Bitcoin and Treasury Investment Trust’ with the SEC during January 2019. 

Despite amending their application six times in 13 months, the SEC rejected Wilshire Phoenix’s ETF, citing concerns about manipulation of Bitcoin’s market, and limited investor protections.

Bitcoin ETF May Come With Widespread Retail Demand

Chris Hempstead, the director of institutional business development at ETF and hedge fund provider IndexIQ, predicts that a Bitcoin ETF will come as retail demand for the product grows.

“I doubt very heavily that it’s going to be the last straw,” Hempstead stated. “I think…

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