Does Switzerland’s Crypto ETP Have Any Significant Influence On Bitcoin ETF Approval?
The globe’s first cryptocurrency exchange-traded product (ETP) will begin trading this week on a Swiss Exchange. It’s Europe’s fourth-biggest exchange with a market capitalisation of around $1.6 trillion.
The Amun AG cryptocurrency startup will list the index fund on a traditional stock exchange. The co-founder of Amun, Hany Rashwan said:
“The Amun ETP will give institutional investors that are restricted to investing only in securities or do not want to set up custody for digital assets exposure to cryptos.”
Bitcoin ETF vs Swiss Crypto ETP
There is an ongoing discussion on whether or not the approval of Switzerland’s cryptocurrency ETP will create more chances for a BTC ETF to be approved, but the available answer is showing a NO, according to an Oracle Times report.
It shows that the Amun ETP notion is somewhat similar to an ETF since it enables institutional investors and accredited retail traders to invest in digital currency without involving a third-party and also handle regulatory-related issues.
U.S. SEC Further Rejection of Several Bitcoin ETF Proposals
As of now, we are not sure how the U.S SEC will rule, but what we are sure of is that Bakkt’s launch has a big influence on these approvals.
As Coinidol recently
reported, the U.S SEC is not ready to make a final decision on BTC ETF. The deadline to decide on VanEck ETF was scheduled for December 29, 2018, according to lawyer Jake Chervinsky.