It might not sound believing at all at first, but according to one of the three SEC commissioners Hester Pierce the crypto market has come a long way and is maturing at a faster pace which is a great sign. According to him, a lot of that maturing comes from the quick adoption of cryptocurrency by a variety of financial institutions out there. She was asked a lot of questions about different stuff, such as whether or not the SEC would approve a Bitcoin-based ETF on which he didn’t comment anything but the very essence of the interview dictates that the overall interaction of SEC with the crypto market might finally change.
Institutions do Bring Maturity
The rapid change that is taking place in all the crypto markets seems to be the result of the wide adoption that is taking place regarding cryptocurrency, and a lot of that has to be subjected to the financial adoption of cryptocurrency too by large institutions. This might change the overall behavior of the SEC with the crypto market for good and whether it might sound a little too much to take in, but these are the big institutions in any race that brings high-level maturity in any market, whether it is crypto, stocks, or forex, according to her.
In the US market, the questions related to ETF exchange-traded are becoming more and more consistent, and it would only feel likely if something like that comes up in the mind of the interviewer when one of the SEC commissioners is there. Various applications have been filed to grant such ETF regarding Bitcoin by various institutions out there, but each and every application has been rejected and discarded by the SEC.
But it is possible that in the near future, one such request might get entertained as the market’s maturity and interest from the investors might get around some of the concerns the commission has around the issuance of a Bitcoin-based ETF. So, it is not like it will never ever happen as the future holds a pretty good chance for that.
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