Proper approval and permission have been sought from the United States Securities and Exchange Commission (SEC) for a BTC ETF (Exchange-Traded Fund) after a series of high and low for several years. Everybody from Gemini to the CBOE has already filed for the Exchange-Traded Fund but so far, none of them has been successful.
In spite of the regular rejection, the firms in the financial industry continue to run after the BTC Exchange-Traded Fund which many believed is very instrumental in leading to tremendous progress of the crypto industry.
Currently, the CEO of Grayscale, Michael Sonnenshein has intimated people on the fact that Grayscale will explore the application of this very slippery ETF as soon as the regulator (SEC) gives its approval.
Grayscale sets to file for an ETF
This decision was revealed by the CEO, Michael Sonnenshein in a very recent interview where he said that As soon as there is a green light from the regulators on the confirmation of their great comfort and that they possess the elements of maturity and stability in the market, they will love to talk further on their recent decision.
For now, the fact that Grayscale decided to file for an ETF in no time is still speculation which is due to the increased number of jobs posted by this very giant in the world of crypto fund which depicts their preparedness for a huge debut in the coming days.
All Hopes high for an ETF soon
There has been quite a difficulty in the filing for the Bitcoin Exchange-traded funds in the United States compared to the filing in other states like Canada. where about three of the filings have been approved.
Currently, the SEC is considering several applications from different companies but Michael Sonnenshein believes it is just a matter of when they will get approval from the SEC not if. And for now, he is not even willing to take any second guess at the company’s decision.
Firms like JPMorgan has creatively established investment features like an indirect exposure to BTC as a way to navigate the waters of approval from the SEC while the people investing still benefit fully from the crypto space.
But with the trending nature of BTC and crypto at large in the United States, everyone can only hope and imagine that a BTC Exchange-Traded Fund (ETF) will come to the US very soon.