Those hoping and praying for a bitcoin exchange-traded fund (ETF) have so far been met only with rejection.
As BeInCrypto reported two weeks ago, the United States Securities and Exchange Commission (SEC) denied the most recent proposals for a bitcoin ETF.
According to Abra chief executive Bill Barhydt, that’s because none of the applicants fit the SEC’s mold.
It’s not merely about appearances, however.
On a less formal level, Barhydt believes the SEC wants an applicant who “looks, feels and smells” attractive — meaning an established firm, as opposed to a start-up.
That said, Barhydt also believes that it’s only a matter of time before a bitcoin ETF is approved.
That approval could potentially come on September 30, when the SEC is set to make a decision regarding the VanEck SolidX Bitcoin Trust ETF — which many believe has the strongest chance of garnering approval of any applicant thus far.
What do you think about Barhydt’s statements regarding the SEC and a bitcoin ETF? Do you think the VanEck SolidX Bitcoin Trust ETF will be approved at the end of this month? Let us know in the comments below!