The SEC has set a new deadline till the October end for public comments after which the securities agency will start reviewing the proposed rule changes.
VanEck director Gabor Gurbacs said that the company is firm in its decision to get “a liquid, insured and appropriately regulated physical bitcoin ETF” in the market.
The SEC has sought for comments to “address the sufficiency of the Exchange’s statements in support of the proposal, which are set forth in the Notice.”
Though the crypto community doesn’t have a single opinion about the future of the market, some experts believe that BTC will go up.
Coinbase is considering an opportunity to join forces with the biggest asset manager in the world, BlackRock, with a view to develop a Bitcoin exchange-traded fund (ETF).
While some experts are not very optimistic about the future of Bitcoin, some other believe that Bitcoin is likely to strengthen its positions.
According to Antonopoulos, ETFs, if thought of as instruments, allow investors to just speculate around the price of cryptocurrency but not actually hold them.
The data also show a consistent drop in the ‘HODL’ frequency, while on the other hand there a growing ‘REKT’ frequency.
SEC Commissioner Hester Peirce explained that the agency might reconsider its decision as the ruling was originally drafted by SEC staff members on behalf of the leadership.
SEC says that the insufficient volumes of Bitcoin Futures don’t satisfy the agency’s rules to prevent fraud and manipulation.