Matt Hougan, the Head of Research at Bitwise Asset Management, the startup whose Bitcoin exchange-traded fund (ETF) the United States Securities and Exchange Commission (SEC) must review within the next week has expressed optimism ahead of the deadline day.
Hougan in a Monday interview published on CNBC, (exactly one week to the SEC’s October 13 deadline), reportedly said,
We’re closer than we’ve ever been before to getting a bitcoin ETF approved.
The Bitwise official also appeared unfazed by the fact that their application could meet rejection from the SEC on Monday, in the same manner as the several proposals that the regulator has received within the last four years.
The SEC has to give its decision: yes or no. They have no more ways to postpone it at this point. We will hear clearly between now and Monday what they think, and then, depending on what we hear, we’ll go forward from there. But it should be a very exciting week
Hougan said in today’s interview.
Meanwhile, it is pertinent to point on that the recent comments by Hougan mirror those shared by Bitwise CEO, Hunter Horsley who suggested in August that the crypto industry has seen enough development to receive approval for a Bitcoin ETF.
Similarly, U.S SEC Chairman, Jay Clayton reported last month that we’re closer than ever to a Bitcoin ETF with applicants finally providing answers to questions posed by the regulator around market manipulation and asset custody.
Clayton, however, added that “there’s work left to be done,” a statement that means Bitwise’s chance of securing approval still hangs in the balance ahead of deadline day.