In a recent interview with CNBC, went to Matt Hougan, senior member of a Bitwise in the coming to a decision of the SEC on their bitcoin ETF. Monday, the 14th of October, it will be for the SEC to rule on the request. What does this mean for the market?
You can see the interview here and see if our interpretation is to read it.
Bitcoin ETF to be approved
Hougan is going to be a few of the reasons why the time is right, that is an exchange traded fund ETF that can be adopted. He expects that this is due more to changes in the market. In particular, six of the ten largest crypto exchange is now regulated by the New York Stock Exchange and other governing bodies.
In addition, increases in the CME futures market, with an average volume of approximately $ 200 million per day. There will also be becoming more and more bewaardiensten.
With bewaardiensten we mean the Creation and Coinbase out of San Francisco, california. He said that due to the higher adoption, more liquidity, and improved safety and security, and the SEC is not a reason for approval for an ETF to them.
A questionable attitude, and SEC
All of the arguments to the contrary, it is the first to see it, then believe it. The SEC has, to date, all requests for the INDEX pages to be deferred, rejected, or discouraged.
The SEC has the Bitwise-and of the other applicants will be asked for a document that contains thousands of questions to fill out. Each question should be carefully studied in order to nd errors, and the reasons for an INDEX not to be approved.
The bow of the SEC, is a lot of tension and it’s going to be cryptocurrency’s. That is definitely due to the scheduling of a Facebook with the sign Libra. But by doing so, the SEC is, however, a lot of knowledge about the cryptocurrency, the market and the technology. there is a danger that the SEC’s conclusion that the market is still too unstable, there’s just no INDEX.
It may be that the best attitude to have or to be, nowhere to go, not the mountains of gold are to be expected. Or you’re going to have a repeat of the launch of the Bakkt, when the market is disappointed, responded to, because there is so little business it was.
Cryptomarkt still in development
No cryptoliefhebbers more like bitcoin and the altcoins world, and be used by anyone. However, the question is whether or not the fundamentals are already here and ready for it.
Ethereum is, for example, is involved with the Ethereum 2.0, in order to schaalproblemen to solve the problem. And the bitcoin build to be a reliable second layer for the blockchain going to make payments more efficient and less expensive to be able to offer you.
A lot of other cryptocurrency should be on their mainnet yet to launch it, and use the blockchain of Ethereum. Also, should we have to wait and see if they have the promise of their paper which be able to make it.
However, if, by the approval of an ETF for more money by the use of derivatives in the market network, the development of the cryptomarkt at a rapid charge.