While the markets are in their own zone of decay, there is some news developing around the Bitcoin ETF. This time things appear to be on the positive side as the appointment of the new commissioner at SEC by Trump is Pro cryptocurrency. Alternate news that would give a positive push to cryptos is that Coinbase is thinking about options for Bitcoin ETF. Possibly this is the news the road was anticipating that could hold the free fall in Markets.
A Bitcoin exchange-traded fund (ETF) is expected to happen following the appointment of new Securities and Exchange Commission (SEC) head Elad Roisman, an anonymous analysis claims.
As mentioned in a medium post which is focused primarily on the impact of Elad on SEC’s decision on bitcoin ETF, Elad Roisman, a Republican from Maine, will become the fourth Trump appointment to the Securities Exchange Commission later today when the Senate votes to confirm him. In a hearing before the Senate Banking Committee in July, Roisman touched on what will be a series of landmark decisions on cryptocurrency made by the Commission, saying:
“…the SEC must examine and re-examine its rules, regulations and guidelines to ensure that they are still working as intended to accomplish the SEC’s mission. This is most recently manifested in areas such as data protection and cybersecurity, as well as the emergence of new investments and technologies such as initial coin offerings and blockchain. It is essential that the SEC approach these new challenges in a fair and transparent manner, provide clarity and certainty to the markets and investors, and enforce the laws and regulations that hold market participants accountable.”
With a little research, though, we can get some idea of where the incoming Commissioner might stand when it comes to the proposed Bitcoin ETFs. First, though, it’s important to look at the likely makeup of the SEC at the time the decisions are made.