SEC Commissioner Robert Jackson says Bitcoin ETF is on the Horizon

There had been a lot of rumors about the approval of a Bitcoin ETF, following the unsuccessful application that dates to late 2017. However, in an interview with Congressional Quarterly, U.S Securities and Exchange Commissioner, Robert Jackson Jr. said that a Bitcoin ETF is on the horizon.

Drew Hinkes, a Twitter user with the news platform ‘Athena Blockchain’, made the news public, even though the interview is expected to be made public by Feb 11. Drew tweeted:

The SEC commissioner admitted that presently it seems difficult for the Commission to approve a Bitcoin ETF, but that it will be aired. Robert Jackson said:

“Getting the stamp of approval from the deepest and most liquid capital markets in the world is hard, and it should be. Once we put the stamp of the United States Securities and Exchange Commission on an investment; once we make it available to everyday mom and pop investors, we are taking risks that Americans can get hurt.”

In summation, Robert gave some reasons why previous applications for Bitcoin ETF was not approved like that of Winklevoss twins, Tyler and Cameron, and also how recent applications is almost meeting up to the standard they set. Robert said:

“I’m happy to say market participants have begun to come in with ideas. Whether or not we’re going to find one that really protects investors I don’t know, but I do know that that case wasn’t especially close.”

Also, the most renowned and hopeful approval of the new year, the VanEck Solid Bitcoin Trust was withdrawn and then resubmitted after signs came that it could be rejected on Jan 23. Robert added

“Eventually, do I think someone will satisfy the standards that we’ve laid out there? I hope so, yes, and I think so.” This could be celebrated as SEC had listed the approval of a Bitcoin ETF as one of its targets for the year 2019.