A commissioner at the U.S. Securities and Exchange Commission (SEC) believes a bitcoin exchange-traded fund (ETF) will ultimately be approved. Robert J. Jackson Jr., in an interview published by government-focused news source Roll Call on Wednesday, said: “Eventually, do I think someone will satisfy the standards that we’ve laid out there? I hope so, yes, and I think so.”
A number of bitcoin ETF proposals have filed for SEC approval, but none has yet got the green light. Jay Clayton, chairman of the SEC) has said he doesn’t see a pathway to a cryptocurrency ETF approval until concerns over market manipulation are addressed.
The SEC has to date rejected at least 10 such proposals. Last August, it turned down seven filings from ProShares, Direxion and GraniteShares. A day later, though, the regulator said it would review the proposals. In July, the SEC for the second time rejected Cameron and Tyler Winklevoss’ proposal to list a bitcoin ETF on the Bats BZX Exchange.