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.
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