What the bitcoin ETF would allow everyday investors to do is have safe, simple, secure access to the wealth generation taking place in bitcoin and crypto. It would let financial advisors give it to their clients easily instead of them going rogue. Nevertheless, according to Hougan, the approval of the application would be a strong bullish signal to Wall Street investors that a further regulatory step has been overcome and a new investment opportunity is available.
The SEC has to make a final decision by October 13, 2019 as to whether the Bitcoin ETF application by Bitwise and the NYSE Arca will be approved or rejected. The SEC had already postponed the decision twice and thus disappointed many investors. Despite all previous developments, Matt Hougan, head of research at Bitwise, is still optimistic.We’re closer than we’ve ever been before to getting a bitcoin ETF approved. We will hear clearly between now and Monday what they think, and then, depending on what we hear, we’ll go forward from there. But it should be a very exciting week.Hougan also says that over the years the market has become much more mature and has grown into a “well-regulated institutional world market”.
Furthermore, more and more crypto exchanges in the United States of America are regulated by the state, so that there is a constant control and monitoring of the activities taking place. In the process, more and more modern surveillance technologies are being used, which are provided by the New York Department of State and are thus fully monitored by the state.
Author : Collin Brown