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Bitwise Makes Pitch for Bitcoin ETF in Presentation Published by SEC

  • Alex Dovbnya
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    Bitwise provides three reasons why the SEC should approve its Bitcoin ETF proposal

Bitwise Makes Pitch for Bitcoin ETF in Presentation Published by SEC
Cover image via news.u.today

Bitwise Asset Management has presented the main reason why the crypto industry is mature enough for a Bitcoin ETF, Forbes reports.

In a presentation, which was published by the U.S. Securities and Exchange Commission (SEC), it mentions spot market efficiency, institutional-level cryptocurrency custody, and the growing popularity of Bitcoin futures.

The reality is that the bitcoin market of today bears little resemblance to the crypto market of a few years ago,” says Bitwise global head of research, Matt Hougan.

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The SEC is expected to announce its final verdict on Bitwise's application no later than Oct. 13.

As reported by U.Today, VanEck Securities and SolidX Management pulled the plug on their proposal after a launching a “limited” version of a Bitcoin trust.

On Sept. 10, SEC Chairman Jay Clayton said that they were moving closer to green-lighting a Bitcoin ETF. 

However, the publication of the aforementioned presentation shouldn’t be counted as endorsement given that it’s a mundane practice for the regulatory watchdog.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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Ex-Congressman Says Fed Should Not Play With Own Cryptocurrency

  •  Denis Sinyavskiy
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    Former US Congressman Ron Paul shares his thoughts on the possible creation of Fed’s own cryptocurrency

Ex-Congressman Says Fed Should Not Play With Own Cryptocurrency
Cover image via www.123rf.com

Former US Congressman Ron Paul spoke on Fox Business and said that the Fed should not think about creating its own cryptocurrency.

Fed’s Crypto: To Be or Not To Be?

Rumors have been circulating for the past few months about the Fed possibly creating own cryptocurrency. It is expected that a digital coin would become a competitor to its counterparts on the market, and may even replace fiat money. President Patrick Harker, President of the Federal Reserve Bank of Philadelphia, commented on such rumors at a recent conference:

“It is inevitable. I think it is better for us to start getting our hands around it.”

However, there has not been no official follow-up by the Fed towards a crypto exchange. While proponents of this idea believe such innovation is necessary, it is expected that the exchange could stop the current delays involving US bank transfers.

What do the opponents think about the Fed's own cryptocurrency?

The idea of ​​creating the Fed's cryptocurrency has its opponents. This includes Ron Paul, who believes that the Fed is in a better position to stay away from digital coins and allow the private blockchain sector and payment platforms to resolve this discussion in real-time. What the Fed plans to do next is unclear, but the central bank may still enter the game.

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About the author

Starting with a simple interest in cryptocurrency, over the past two years, Denis has worked in a cryptocurrency fund and become an author with an analytical bias. His engineering degree helps with the analysis of the technical part of the cryptocurrency market. As a fan of cryptocurrency, Denis believes that the blockchain technology is the future.

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