The approval of a Bitcoin exchange-traded fund (ETF) has been long featured in our digital currency news – as a move that is seen as the catalyst of a new bull run for many investors on the market.
A Bitcoin ETF could definitely increase the liquidity of the most dominant cryptocurrency and allow both institutional and retail investors to securely and efficiently invest in the asset class without any conflict with local regulations. However, according to one pro-crypto commissioner from the SEC named Hester Peirce, such approval remains an uncertainty and could take “days to years.”
Peirce first made these comments at a cryptocurrency conference in Washington where she said that the work on approving an ETF based on Bitcoin resumes – but also that the SEC has five commissioners and a majority ruling is required for an ETF to pass.
“Don’t hold your breath. I do caution people to not live or die on when a crypto or bitcoin ETF gets approved. You all know that I am working on trying to convince my colleagues to have a bit more of an open mind when it comes to [crypto]. I am not as charming as some other people.”
The commissioner also added that a Bitcoin ETF could be approved either tomorrow or in ten years time. However, she also emphasised that the institutionalisation of crypto will inevitably occur as the infrastructure surrounding it strengthens over time.
Meanwhile, the SEc recently delayed the regulation of VanEck’s Bitcoin ETF and moved the date to February 27th next year.
CME BTC Futures Volumes Hits 4-Month Low: Analysis
‘’ of a 2nd example of my fear. The out of no where dump in bitcoin on 9/6, it started at 1pm. The Bitcoin futures dump started at 1235pm on the CME futures. It seems to me bitcoin is now controlled the way equities markets are: by a small minority trading in an illiquid futures mkt’’It is still unclear whether the new Bakkt futures would have a similar effect since, in theory, the traders could acquire physical BTC by acquiring a contract and holding it until the settlement begins. They will be credited with the actual BTC later. Despite the low volumes, the CME increased the spot-month position limits and BTC still remains unpredictable so it is possible that there is some more increasing interest in trading. As per the latest cryptocurrency news, the CME futures market seems to be active in comparison to the CBOE product which was eventually discontinued before the big summer rally which sent BTC to a yearly peak.
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Investment App Abra To Sell Crypto In 6,000+ 7-Elevens In Philippines
“Now Abra users in the Philippines can quickly and easily add pesos into Abra and use that to invest in cryptocurrencies or popular stocks like Google, Amazon, Facebook, etc., which opens up a world of new possibilities to build wealth.”The investment app Abra was in the news back in February as well. Then, it said that it was launching a new service which allowed customers to invest in fractions of stocks of NASDAQ-listed firms. The app also supports 30+ cryptocurrencies and 50+ fiat currencies. According to the general manager at ECPay, this partnership “widens the product and service offerings of ECPay to its Collection Partners like 7-Eleven, NCCC Department Stores and Supermarkets, LCC Malls and other Remittance, Pawnshop partners." For those of you who don't know or are not following our altcoin news, the Philippines adheres to the Cagayan Economic Zone Authority (CEZA) which unveils a comprehensive set of new rules that govern cryptocurrencies. All of this was made in a bid to effectively regulate and protect investors. Under the rules, all Digital Asset Token Offering (DATO) regulations must have proper offering documents with pertinent details on the issuer, project and accompanying advice and certification of experts and DA Agents.
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