Bitwise Makes Pitch for Bitcoin ETF in Presentation Published by SEC

Libra Coin News
Thu, 09/19/2019 - 18:34
Alex Dovbnya
Bitwise provides three reasons why the SEC should approve its Bitcoin ETF proposal
Cover image via 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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Bitcoin Needs to Be Better Regulated to Get Listed on Nasdaq or NYSE, According to SEC Chairman Jay Clayton

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.

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.