Note: “This analysis is an adaptation from the work of Mati Greenspan, Senior Market Analyst at eToro
- Bitcoin ETF could happen any day as VanEck renews his proposal
- 3 out of 4 SEC commissioners seems to be crypto friendly
- Crypto prices bounce back over the weekend
Bitcoin ETF approval may just happen any day
With the withdrawal and renewal of VanECK’s proposal, it seems that some of the key players are now far more optimistic that a bitcoin ETF could be approved sometime soon. The decision to approve or disapprove falls on the SEC, so let’s take a look at who is making the decisions…
Hester Peirce is by far the biggest bitcoin advocate on the panel. Many prefer to call her by the nickname Crypto Mom. The newest member, Elad Roisman, is also a known crypto advocate.
Last week Robert Jackson also made headlines speaking in favor of cryptos. So the toughest walnut to crack remains Chairman Jay Clayton, who continues to engage with the crypto community, but so far remains steadfast in his view that the market isn’t ready for it just yet. VanECK remains optimistic though.
Digital Assets Director Gabor Gurbacs recently told CNBC’s Ran Neuner that the application process may take up to 240 days but that it could be done in a single day should the SEC decide to approve it.
It would be even more interesting to wait until SEC’s final decision and Stay tuned with Coingape to get updates on Bitcoin ETF and SEC’s final decision.
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Mati Greenspan is the Senior Market Analyst at eToro, a global social trading and investment platform. Mati is a licensed portfolio manager in the European Union and his main focus is on macroeconomic analysis, portfolio diversification and cryptocurrencies. Follow him on Twitter at @matigreenspan