- According to Keiser Gurbacs, there has been unfair dismissal of Bitcoin’s exchange-traded funds (ETFs) by the U.S. regulators repeatedly.
- Bitcoin ETF will enable exposure to Bitcoin investments through conventional market practices and brokers.
- Over the past two to three years, the Security and Exchange Commission (SEC) of the U.S. has rejected many Bitcoin ETF offers.
In an interview with Keiser Report, VanEck Director, Gabor Gurbacs said that U.S. regulators practice double standards regarding Bitcoin ETF. Gabor Gurbacs handles VanEck’s digital assets and is in charge of technology, regulatory matters, and investments.
According to Gurbacs, there has been unfair dismissal of Bitcoin exchange-traded funds (ETFs) by the U.S. regulators repeatedly.
Bitcoin exchange-traded fund (ETF) denial
Bitcoin ETF is a financial product that can officially trade in the stock markets and reflect the risks of Bitcoin. The ETF, depending on the product, would be either legal tender backed or BTC backed. Moreover, it will enable exposure to Bitcoin investments through conventional market practices and brokers.
Over the past two to three years, the Security and Exchange Commission (SEC) of the U.S. has rejected many Bitcoin ETF offers. VanEck, in partnership with SolidX, also introduced its products to the regulator. However, it faced many delays and problems before deciding to decline its offer.
Gurbacs Justifies the Bitcoin’s Price Action
According to regulators, Bitcoin should detect the real price and neither subject to market manipulation. Comparing this situation with other available ETFs, Keyser said that “the argument for price determination does not hold water.” He says that the Bitcoin ETF creates a better understanding of this cryptocurrency industry.
According to Gurbacs, he doesn’t believe that pricing and price classification is a big problem. He also said that this “problem” is already resolved. The company has received Bitcoin ETF approval in Switzerland, Canada, Japan, and other countries. He further added that the U.S. would sooner or later recognize this need for exchange-traded funds.
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