The Securities and Exchange Commission (SEC) has not yet approved a single application for the launch of exchange-traded crypto funds Bitcoin ETF.
The American regulator periodically postpones the publication of its decision on such applications and states that it needs additional time to assess all potential risks. In a report by cryptocurrency exchange Coinbase, prepared for institutions, it is said that the policy of the US authorities towards the digital asset market will be softened.
Platform analysts expect that by the end of 2021, the SEC will approve the first applications for the launch of Bitcoin ETFs.
The Coinbase document notes: “We believe the US SEC will approve the Bitcoin ETF as both the digital currencies market and public interest in it are growing. It’s just a matter of time.”
If by the end of this year the American regulator does not legalize the new product, then there is no doubt that we will see its appearance on the market at the beginning of 2022, the experts of the exchange predict.
They also believe that the value of bitcoin will grow at a more confident pace if institutional investors get another channel to penetrate the crypto sphere.