Money management group VanEck and crypto startup SolidX, who plan to launch a new financial instrument, believe they are close as never to get a green light from SEC.
The Securities and Exchane Commission (SEC) could give an approval to bitcoin ETF rather soon, thinks Gabor Gurbacs, VanEck head of digital asset strategies. In his interview to Fox Business he said the new financial instrument is close to be given a go.
“We are the closest that we can be. It is very clear to me that America wants a bitcoin ETF and we are here to build it. We are waiting for regulatory feedback and we are hoping that we get the thumbs up,” said Gurbacs.
The instrument will be insured and propped by real bitcoin, added Gurbacs. The company also complies with all requirements for this type of financial products.
SolidX, a crypto startup, filed an application to launch its own bitcoin ETF in March of 2016 and last June it was joined by VanEck. The Securities and Exchane Commission has not issued its final verdict yet.
Earlier in October, Ric Edelman, financial advisor from Wall Street, told CNBC bitcoin ETF will have a considerable effect on digital money market, but at the moment the industry lacks regulation.