Crypto enthusiasts who are hopeful for a Bitcoin ETF traded publicly on a major U.S stock exchange has some renewed hope to bank on.
Although the U.S SEC has bounced several applications until now, leaked comments of a top official, Robert J Jackson Jr point out that approval for a Bitcoin ETF is now more possible than it was last year.
It is important to note that the comments were part of an interview conducted with the top official by Congressional Quarterly, and is slated for publication in the media on February 11.
Jackson suggested in the leaked report that recent applications submitted with the SEC has a better chance of getting approved rather than those submitted last year.
He opened up on the fact that most of last year’s submission, especially that of the Winklevoss brothers did not specify enough protection for mainstream investors.
On the newer applications, Jackson said,
I’m happy [that] market participants have begun to come in with ideas. Whether or not we’re going to find one that really protects investors I don’t know.
Moving forward, he expressed optimism that it is almost certain that approval will happen.
“Eventually, do I think someone will satisfy the standards that we’ve laid out there? I hope so, yes, and I think so.” Jackson said.
As Coinfomania has reported in previous times, there U.S SEC has two pending Bitcoin ETF applications to decide upon.
In early January, crypto startup Bitwise Asset Management partnered with the New York Stock Exchange (NYSE) Arca to submit a proposed rule change that will result in the listing of a Bitcoin ETF.
More recently, the Chicago Board and Options Exchange (CBOE) resubmitted its proposed rule change application in partnership with VanEck Investments and SolidX.
We will see a Bitcoin ETF approval in 2019? Only time will tell.