SEC’s Bitcoin ETF Approval will Boost Crypto Market

[Goodcat49]

The entire crypto community is waiting for the approval of Bitcoin exchange-traded funds (ETFs). Since last year, more than 9 ETFs have been rejected by the United States (U.S) Securities and Exchange Commission (SEC).

It is a type of securities which execute the function of a certificate for an exact portfolio of assets. Let’s see why the cryptocurrency investors wait and want them to be adopted by the SEC.

Recently, the SEC chairman Jay Clayton said that key changes must be done before the Commission approves the cryptocurrency ETFs:   

“What investors expect is that trading in the commodity that underlies that ETF makes sense and is free from the risk of manipulation,” … “It’s an issue that needs to be addressed before I would be comfortable.”       

The cryptocurrency ecosystem has an adequate number of issues, including the lack of popularity and dominance among the public. Several crypto investors are afraid of working with a new kind of asset, and ETF is to some extent a common financial tool.   

When they are introduced, then it will largely allure massive investors to the market that are fond of dealing with the traditional financial assets.   

Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/bitcoin-etf-approval/