There had been a lot of rumors about the approval of a Bitcoin ETF, following the unsuccessful application that dates to late 2017. However, in an interview with Congressional Quarterly, U.S Securities and Exchange Commissioner, Robert Jackson Jr. said that a Bitcoin ETF is on the horizon.

Drew Hinkes, a Twitter user with the news platform ‘Athena Blockchain’, made the news public, even though the interview is expected to be made public by Feb 11. Drew tweeted:

The SEC commissioner admitted that presently it seems difficult for the Commission to approve a Bitcoin ETF, but that it will be aired. Robert Jackson said:

“Getting the stamp of approval from the deepest and most liquid capital markets in the world is hard, and it should be. Once we put the stamp of the United States Securities and Exchange Commission on an investment; once we make it available to everyday mom and pop investors, we are taking risks that Americans can get hurt.”

In summation, Robert gave some reasons why previous applications for Bitcoin ETF was not approved like that of Winklevoss twins, Tyler and Cameron, and also how recent applications is almost meeting up to the standard they set. Robert said:

“I’m happy to say market participants have begun to come in with ideas. Whether or not we’re going to find one that really protects investors I don’t know, but I do know that that case wasn’t especially close.”

Also, the most renowned and hopeful approval of the new year, the VanEck Solid Bitcoin Trust was withdrawn and then resubmitted after signs came that it could be rejected on Jan 23. Robert added

“Eventually, do I think someone will satisfy the standards that we’ve laid out there? I hope so, yes, and I think so.” This could be celebrated as SEC had listed the approval of a Bitcoin ETF as one of its targets for the year 2019.

The post SEC Commissioner Robert Jackson says Bitcoin ETF is on the Horizon appeared first on TechCavit.

Last week CBOE was forced to withdraw the VanEck and SolidX Bitcoin ETF proposal due to the government shutdown that was occurring in the United States.

Political squabbles led to Congress not being able to meet the budget deadline. The shutdown lasted for weeks and showed no sign of stopping. With non-essential government employees out of work, many processes, including the in the SEC were slowed down and even halted.

With what had been called the final deadline coming up, CBOE decided to pull the proposal to avoid possible future snags.

The CEO of VanEck, Jan van Eck, explained the move on CNBC.

“The shutdown affected the U.S SEC, we were engaged in discussions with the SEC regarding Bitcoin-related issues, market manipulation, prices, custody, and that had to stop. So, rather than trying to sleep through or something, we just had to withdraw the application and we will re-file and re-engage in the discussions when the SEC gets going again.”

After weeks of uncertainty, the United States Congress finally came to a temporary agreement that ended the shutdown. However, another could potentially be brewing with the United States still in political turmoil.

With the government shutdown resolved for now, the proposal has been re-submitted according to Gabor Gurbacs, the digital assets director at Van Eck.

@gaborgurbacs tweeted,

“The VanEck SolidX Bitcoin ETF proposed rule-change has been submitted by CBOE. Hard work by all teams involved. Public document: cdn.cboe.com…”

Just because the proposal has been re-submitted, there is no guarantee that it is approved. Still, there is renewed optimism that an ETF will become a reality soon.

The acceptance of the Van Eck proposal has been long anticipated, and many experts expect a flood of new money to be introduced to the space once the ETF is finally launched.

The post CBOE has resubmitted VanEck/SolidX Bitcoin ETF appeared first on TechCavit.