Commissioner Robert J. Jackson Jr. believes that a Bitcoin exchange-traded funds (ETF) will likely get the approval from the United States Securities and Exchange Commission so let’s find out more in our bitcoin news today. The commissioner, who is the only Democratic commissioner within the regulator, says that despite the ETF applications rejections last year, the things are about to change:

 “Eventually, do I think someone will satisfy the standards we’ve laid out there? I hope so, yes, and I think so.’’

Back In 2018, many ETF proposals are on the hold button for the SEX but at the end, all of them received a ‘’no’’ as an answer or delays on the final outcome. For example, VanEck engaged in a long dialog with the regulator and addressed his worries over its product and with the US government shutdown, it caused for the application to be temporarily withdrawn before being brought up to the public a week later. Jackson highlighted the effort for an ETF approval by the Winklevoss Twins all the way back in 2017 with the goal to show how attitudes are evolving and changing altogether with the market. When the SEC rejected their ETF application in 2017, the Bitcoin market went through another major volatility phase. Jackson continued:

 “There you had a situation where the risk for manipulation and for people getting hurt was enormous. The liquidity issues in the market were very serious.’’

Another SEC commissioner Hester M. Pierce claimed that the regulator had ‘’fundamentally erred with the decision.’’


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