SEC Commissioner: Sooner or later, the regulator will approve the BTC ETF
Robert Jackson, one of the SEC commissioners, is confident that the regulator will not be able to forever reject companies’ applications on bitcoin ETF creation, and sooner or later authorities will approve such a fund.Over the past year, numerous companies have submitted more than a dozen applications to the SEC to create a bitcoin ETF. But the regulator rejected them all. As stated by Commission Chairman Jay Clayton, the cryptocurrency market is easy to manipulate, and until the market develops a system for protection against illicit practices, the regulator cannot approve the BTC ETF.
In an interview with Roll Call, Robert Jackson also confirmed the words of the chairman, saying that the regulator rejected past bids because of “market manipulation risks” that could “harm investors.”
However, Jackson is sure that sooner or later there will be a company that will satisfy all the requirements, and the regulator will approve its application.
In January, the crypto companies VanEck and SolidX withdrew their bid to create a bitcoin ETF. According to VanEck CEO, firms could not negotiate with the SEC because of the shutdown of the US government. Almost as soon as the government started working, VanEck and SolidX applied again. Now the SEC has 240 days to rule out on firms’ application.