In what seems to be some very exciting news for the cryptocurrency space, the United States Securities and Exchange Commission has made the decision to approve not one but two applications for Bitcoin-based exchange traded funds. Early next month, Bitcoin ETFs will be launched by Bitwise Asset Management and investment management firm VanEck.
Before we go any further, we should probably say Happy April Fools Day!
Yes unfortunately, the United States SEC has not approved two ETF applications, in fact they haven’t even approved one as of yet but it is on the Commissions to do list for things to do over this next year.
Fun fact though, we aren’t the only news source to attempt to catch out the reader today as so have Finance Magnates going on to say that not only did the SEC approve two ETF applications but that the price of Bitcoin rose up past the $6,000 mark over the weekend too.
With all these jokes and laughs in mind, let’s talk about what we know so far about the SEC and the journey they have taken us on to approve the Bitcoin ETF.
The Road to Approval
The Bitcoin ETF is all but here at the moment but hopes are still high that it is on the way for sometime in 2019, and if everything goes to plan then it will also help boost the price of Bitcoin which will help it reach the highs that it reached back in December of 2017.
An interesting story that came out earlier in the year was that of a solicitation notice that was issued by the SEC. with institutional finances getting ready to flood into the market and save cryptocurrency, the chairman of the SEC,