Crytocurrency

SEC and CFTC May Approve Bitcoin and Ethereum ETFs This Fall

Citing two unnamed sources within the SEC and CFTC, ZeroHedge reported on July 24, 2018, that bitcoin and ether ETFs are likely to be approved this fall. This is one of the final steps before these Exchange Traded Funds are listed on the NYSE exchange.

Speculative Leaks about U.S. Regulation of Crypto Exchange Traded Funds
Sources from both the SEC and the CFTC have confirmed that approval for crypto ETF and the associated regulation may be on the horizon.

According to the Federal Register, the SEC will announce their decision on September 21, 2018. If approved, one firm, in particular, Direxion, would list the following funds on the NYSE:

Direxion Daily Bitcoin Bear 1X Shares
Direxion Daily Bitcoin 1.25X Bull Shares
Direxion Daily Bitcoin 1.5X Bull Shares
Direxion Daily Bitcoin 2X Bull Shares
Direxion Daily Bitcoin 2X Bear Shares.

anonymous source from the CFTC reported the following:

“I would call it 90% at this point. The crypto markets have moderated, and regulators have watched the lack of drama surrounding Bitcoin futures across several global exchanges.”

Exchanges like Coinbase and Gemini have both provided increasing levels of customer service and protections on crypto accounts. According to a recent filing with the Federal Election Commission, Coinbase has even created a Political Action Committee (PAC). Continuing, the CFTC source states:

“The price moderation and adoption of a ‘peer product’ is what the conversations have centered around. In January [2018] we were justifiably concerned about a bubble and the harm a quickly approved product could attract speculators and create losses that led to significant lawsuits. Now, those factors seem to be mitigated significant