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!
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