Bloomberg analysts propose that a Bitcoin ETF could reach the US market in mid-2023 – DiarioBitcoin

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Bloomberg analysts propose that a Bitcoin ETF could reach the US market in mid-2023 - DiarioBitcoin By Angel Di Matteo @shadowargel

According to analysts at Bloomberg, a Bitcoin ETFs approved by the SEQ It will take place when the regulator has more control over the crypto market, which could happen if certain modifications to the Exchange Law are achieved between 2022 and 2023.

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Exchange traded fund analysts (EFT) from Bloomberg, Eric Balchunas and James Seyffart, indicated today that a ETFs fully based on Bitcoin could reach the US market in mid-2023, this as long as there is a change in perspective that maintains the Securities and Exchange Commission (SEC) about this issue.

Is it possible that a Bitcoin ETFs arrive in the US in 2023?

This was indicated by the analysts of Bloomberg in an exchange of messages published through Twitter, where Balchunas commented that there is a possibility that crypto exchanges fall under the jurisdiction of the SEQ if it approves the amendment to change the definition applicable to these institutions. The change in question would make modifications to the Exchange Lawwith which such entities should now abide by the guidelines of the regulatory body, which despite the implications could give cryptocurrencies greater legitimacy and attract investors from traditional sectors.

In this order of ideas, the analysts commented:

“Once cryptocurrency exchanges become compliant, the SEC’s primary reason for denying Bitcoin Spot ETFs would no longer be valid, which would likely pave the way for approval.”

If approved, the change to the definition of exchange by the SEQ could come into place between November of this year and May 2023. If this happens, being directly regulated by the body, it could establish mechanisms to maintain stricter control over the performance of the crypto markets, with which it could also put aside the arguments with which it has traditionally been rejecting the requests made to Bitcoin ETFs throughout recent years, always alluding to the possible manipulation of prices.

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Greater power over the crypto market

What was stated by the Bloomberg analysts goes along the same path as what VanEck’s CEO, Jan Van Eck, indicated in recent times, who assured that the Securities and Exchange Commission would be purposefully withholding the ability to accept an ETF based entirely on Bitcoin waiting to have more control over the cryptocurrency market.

According to Van Eck, the SEQ it is currently very limited and for this reason it has not finished approving this product, precisely because the talks about regulation are contradictory, unhealthy and have not yet reached concrete results.

Let’s keep in mind that a couple of weeks ago President Joe Biden signed an executive order especially dedicated to cryptocurrencies, which sets the tone for the government’s approach and position on this type of asset. It also summons the SEQ and to many other organisms so that they articulate efforts in favor of this matter.


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Source: Cointelegraph

Angel Di Matteo version / DailyBitcoin

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WARNING: This is an informative article. DiarioBitcoin is a means of communication, it does not promote, endorse or recommend any investment in particular. It is worth noting that investments in crypto assets are not regulated in some countries. May not be suitable for retail investors as the full amount invested could be lost. Check the laws of your country before investing.

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