Bitcoin ETF is Coming: Hopeful US SEC Chief Says Approval Only a Matter of Time
SEC Commissioner Robert Jackson Jr. is confident that a bitcoin-based fund will be approved by the regulator . | Source: REUTERS/Joshua Roberts/File Photo
A Bitcoin ETF is on its way – really.
This according to a U.S. Securities and Exchange Commissioner who thinks a Bitcoin ETF will eventually become a reality. Commissioner Robert J Jackson Jr. expressed optimism about a Bitcoin ETF being on the horizon during an interview with Congressional Quarterly. It wasn’t slated to be made public until Feb. 11.
Regardless, details of the interview are already out after being leaked. Twitter user Drew Hinkes, from an outfit called Athena Blockchain, relayed the news via the social media platform.
#SEC Commissioner Jackson in an interview to be published next weeks is optimistic that a “fund based on #bitcoin” will eventually be approved, expresses concern about the proposed ETFs submitted to date. pic.twitter.com/3BCuiBd4CB
— Drew Hinkes (@propelforward) February 5, 2019
Commissioner Spills the ETF Beans
Jackson told the Congressional Quarterly about how hard it is to get the SEC’s blessings of the SEC when it comes to investment vehicles like exchange-traded funds.
“Getting the stamp of approval from the deepest and most liquid capital markets in the world is hard, and it should be. Once we put the stamp of the United States Securities and Exchange Commission on an investment; once we make it available to everyday mom and pop investors, we are taking risks that Americans can get hurt.”
Bitcoin ETF Applicants Lining Up At the SEC’s Door
Jackson also addressed the various Bitcoin-related ETF applications the SEC has receives.