On October 13, the US Securities and Exchange Commission (SEC) will publish a decision regarding the next Bitcoin ETF.
INIn recent years, a lot of effort has been made indirection of approval of Bitcoin ETF. However, to date, none of them have been approved. Instead, the SEC typically delays the deadline for a verdict before rejecting any of the proposals.
Now, with October 13 as the deadline, the SEC will once again have to decide whether to approve or reject Bitwise Investments' Bitcoin-based exchange-traded fund.
This year's Bitcoin performance is stillare considered bullish. This is the best performing digital asset of 2019. But there is still no guarantee that Bitcoin ETF will be approved, and the financial world is waiting for the SEC's decision before taking the next steps.
As already mentioned, repeatedattempts to bring Bitcoin ETFs to market, starting with the Winklevoss twins' proposal in 2013. Each subsequent proposal was also rejected. However, Bitwise could change history. Many of the problems that SEC representatives previously cited have now been resolved, and some institutions have even managed to become official custodians of cryptocurrency. Therefore, a Bitcoin ETF could be the next successful step towards cryptocurrency adoption.