SEC Begins Review of WisdomTree Bitcoin ETF as Active Applications Hit 8

SEC Begins Review of WisdomTree Bitcoin ETF as Active Applications Hit 8

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  1. Just because it’s the SEC’s job to review everything doesn’t mean they’re going to destroy crypto. Just recently someone from the SEC stated how it would be impossible to ban crypto so I wouldn’t stress too much over them reviewing things

  2. For context: the SEC has rejected every single request to let anyone form a regulated Bitcoin EFT market, no matter how powerful the financial institution backing it. Their reason: the Bitcoin market is “not significant” in size and “potentially easy to manipulate” (no details given as to what the supposedly vulnerability is – the judgements are shockingly vague).

    However, now that the SEC has a new chairman who actually knows what crypto is (he actually taught blockchain courses when he was in college), many surmise that 2021 will be the year the SEC actually approves of one or at least outlines clearer rules on what they want to see in an EFT market.

    This latest EFT submission is in itself nothing special. But it’s one of the first ones to be reviewed by the SEC with potentially a new chairman in power, so we’ll see how it goes!

  3. tldr; The US Securities and Exchange Commission has kicked off its review of WisdomTree’s bitcoin exchange-traded fund (ETF) application. A bitcoin ETF would provide retail and institutional investors a chance to invest in a regulated financial product incorporating the world’s oldest cryptocurrency. The SEC has rejected over a dozen applications to launch a bitcoin ETF to date.

    *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*



What do you think?

One of the best explanations of Bitcoin under 10 minutes 🙏

Cover of this weeks Barron’s. It’s hard not to be bullish with this mainstream attention amongst investors.