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Does the new SEC commissioner's pro-crypto stance mean ETF is around corner?

18 Sep, 2018
by Arthur Sillers
News
Does the new SEC commissioner's pro-crypto stance mean ETF is around corner?

Good news for anyone hoping for SEC approval of a Bitcoin ETF continues to add up, with Trump’s new SEC appointee decidedly pro-crypto.

Just recently, the SEC commissioner Hester Peirce called on her colleagues to take a more hands-off approach to regulating investment and innovation, and now the proceedings of Elad Roisman, a newly appointed commissioner with a decidedly pro-crypto stance, has taken effect.

In July, when his predecessor stepped down, Roisman stated in a release that specifically outlined cryptocurrency as falling under the purview of the SEC, noting that he would target the SEC to respond to ‘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’

With three of the five SEC commissioners continuing to issue pro-crypto statements, it seems inevitable that a crypto ETF will, at some point, be ratified. There has been speculation that an ETF approval could be about a year away as proposals hone in investor protection.

Commentators have pointed to the huge effect on the market even of rumors of ETF proposals, and it seems clear that an actual ETF approval would drastically increase institutional interest in crypto, bringing in a huge influx of capital. Now that the majority of SEC commissioners are clearly in favor of crypto-friendly regulation, a BTC ETF may be closer than ever.

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Will Elad Roisman push the SEC to approve a crypto ETF soon?

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