Just when it seemed like things may have died down for a while on the crypto ETF front, another filing was published today by the Federal Register, which is where the SEC publicly lists applications of this sort. The companies that are involved are reportedly those that attempted to file the last reported ETF application, which was hamstrung by the temporary shutdown of the United States government.
Now that Bitwise and NYSE Arca, which are the companies in question, have filed another application, the SEC reportedly has another 45 days to decide whether or not to approval their proposal. Since actually the last two ETF proposals apparently had good chances to be approved, there does not seem to be much that stands in the way of this one, except for the general fact that the SEC has the final word on the matter.
On top of this, it also appears that the same countdown will soon begin for the Van-Eck/Solid X ETF, though it is not clear when since the latest edition of the proposal still has not made its’ way to the Federal Register. Whatever befalls either one of these proposals, two things seem clear at this juncture.
First, it appears likely that 2019 will be the year of the crypto ETF, in only because the companies involved in proposing such an opportunity refuse to quit until it is. Second, until it is proved otherwise, it truly seems like the front runners have emerged in the battle to be the first ETF to be publicly listed.
In any case, once the 45 days are up for Bitwise and NYSE Arca’s proposal, we will know more. Until, crypto investors should begin by hoping that no more government shutdowns end up standing in the SEC’s way.
By: BGN Editorial Staff