Bitcoin ETF adoption has been delayed again

Bitcoin ETF adoption has been delayed again
Abstract

The US Securities and Exchange Commission (SEC) recently announced plans to review three ETFs for Bitcoin, but their approval has been delayed. Now the question is why?

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The US Securities and Exchange Commission (SEC) recently announced plans to review three ETFs for Bitcoin, but their approval has been delayed. Now the question is why?


The three bitcoin ETFs are a few fish, offered by Vanak, Beat Weisz and US Bitcoin Tergie and Invest, awaiting approval by the Securities and Exchange Commission, but the commission intends to delay their approval until their legal deadline. Throw.

The US Securities and Exchange Commission has not yet provided any reason to delay the approval of ETFs and even the need for them. But what is the point?

Ed Batowsky, managing director of Chapwood Capital, told CCN

Bitcoin is not a securities. According to the Securities and Exchange Commission, such securities should have the value of what the securities are based on. But bitcoin doesn't mean anything.




Lee Reiners, head of global financial markets at Duke University School of Law, said in an interview with the Securities and Exchange Commission that ETFs are not needed for bitcoin, because ETFs are essential assets they own and hold such as wheat, corn. Etc. Not rational:

Buying and maintaining Bitcoin is easy for investors because Bitcoin is a digital asset.

He also said that the bitcoin market is full of scams, manipulations and ups and downs, so there is no real price for it. According to Reiners, the inaccuracy of bitcoin's actual price and the lack of a reference for it set the Winklaus' proposed ETF approval program to a halt.

Finally, the reason for bitcoin ETFs' disapproval comes from a press conference a few weeks ago by US Treasury Secretary Steven Manuchin. The United States does not want to do anything to undermine the dollar's standing as a global reserve currency.


 

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