CBOE has metaphorically smashed SEC’s door and put a 102 pages document on its desk that respectfully asks for approval to list the VanEck bitcoin ETF.
That starts off a timer at the Securities and Exchanges Commission (SEC) which has to approve or disapprove the ETF within 45 days.
Meaning this will be one of the first decisions of the new SEC chairman, Gary Gensler, a former blockchain professor widely seen as friendly to cryptos.
If it is disapproved again, some will take that as being Biden’s decision itself, because it is difficult to see what non political argument can be given at this stage for disaproval.
“The development of a regulated market for digital asset securities has significantly evolved, with market participants having conducted registered public offerings of both digital asset securities and shares in investment vehicles holding bitcoin futures.
Additionally, licensed and regulated service providers have emerged to provide fund custodial services for digital assets, among other services.”
So says CBOE with it in addition mentioning all that we know, such as regulated CME futures now handling huge volumes, and numerous institutions adopting bitcoin.
There’s now the bitcoin ETFs trading in Canada, as well as numerous ETNs in Europe, with America standing out as more restrictive because as was found out, Trump doesn’t like bitcoin.
That may be partially why he lost this utterly close election, with cryptos now at a significant market cap and thus affecting the pockets of many Americans.
Hence when Elizabeth Warren was asked about bitcoin, she didn’t say much, presumably because she has seen those bitcoin flags in the Black Lives Matter protests.
The position of America moreover is now untenable as they’re effectively standing out against innovation, an unthinkable proposition in the 90s when the then advanced in thought USA championed innovation everywhere, until Straus’ idiots took over.
Biden however has said America is back, and presumably he means that 90s America. And thus what stand this government takes on bitcoin, meaning cutting edge innovation and technological advancement, may well determine whether the public thinks America has really come back or otherwise.