The SEC is expected to approve the first applications for the launch of Bitcoin ETFs by the end of 2021, according to platform analysts.
“We believe the US SEC will approve the Bitcoin ETF because both the digital currency market and public interest in it are growing,” the Coinbase document states. It’ll only be a matter of time.”
The Securities and Exchange Commission (SEC) has yet to approve any applications for exchange-traded crypto funds, including the Bitcoin ETF.
If the American regulator does not legalise the new product by the end of the year, the exchange’s experts predict that it will appear on the market at the start of 2022.
The American regulator delays the publication of its decision on such applications on a regular basis, claiming that it requires more time to assess all potential risks. According to a report prepared for institutions by cryptocurrency exchange Coinbase, the US government’s stance on the digital asset market will be softened.
They also believe that if institutional investors have another way to enter the cryptosphere, bitcoin’s value will rise at a faster rate.