Although it is impossible to predict when the first crypto-EFT will be approved by the SEC, analysts and industry experts are in agreement that the earliest this will likely happen in 2019 and investors believe that the CBOE VanEck/SolidX Bitcoin ETF will likely be the first to be approved.
The possibility of a Bitcoin ETF being approved this year is unlikely. Just this month, the SEC rejected the Winklevoss Gemini Bitcoin ETF reapplication because of its potential for manipulation and investor harm that they pose, as well as the 9 applications from ProShares, Direxion, and GraniteShares because they did not comply with the requirements under the “Exchange Act Section 6(b)(5), in particular the requirement that a national securities exchange's rules be designed to prevent fraudulent and manipulative acts and practices."
This for me, implies that the SEC is still not convinced about the safety of the current Bitcoin ETF products.
It's not all gloom and doom, though. Because at the same time, analysts believe that the CBOE VanEck/SolidX Bitcoin ETF, which is due to be reviewed on September 30, though likely to pushed back until February 2019, already addresses the shortcomings pointed out in the rejected proposals.
Now, as to whether the weeks and days coming up to February 2019 will lead to a bullish run for cryptocurrencies, I believe market this time might actually be very bullish. Unlike the recent applications, which most people didn't really expect to pass, things are different with the CBOE VanEck/SolidX Bitcoin ETF. More people are more optimistic with it.
Well great question. because the whole crypto world has eyes on this. If anyone has the exact idea he would be the billionaire.
I think the way things are moving, it is expected that one day we may witness crypto etf approval.
This technology has created lot of interest and many countries are adopting it. So when there is so much adoption then next stage come for legislation for the same. So the the interest of people can be protected.
So we may expect ETF approval in near future.
I believe that it might happen in the next few years. I believe this will be very bullish for the market, since it will allow new investors to get into the market without having to deal with all the hassle and security problems with getting a wallet themselves. Right now a lot of them are staying away due to the fact that it's such a high barrier of entry, and it's difficult to get a good solution for long-term storage.