The SEC and the Never-ending Saga of the Crypto ETF

Date : 08/02/2019 @ 04:23
Source :ADVFN Crypto NewsWire
Stock : Bitcoin (BTCGBP)
Quote : 8369.91000000  -126.09000000 (-1.48%) @ 17:08
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The SEC and the Never-ending Saga of the Crypto ETF


 
 

Bitcoin Global News (BGN)

February 07, 2019 -- ADVFN Crypto NewsWire -- No, this will not be yet another piece that speculates on when the Securities and Exchange Commission will approve any sort of crypto based exchange traded fund. Even so, because of the news involving Abra yesterday, something needs to be added to be added to the mix that applies to both of these situations.

If you recall, yesterday, it was announced that Abra will now allow its’ users to invest in fractional shares of traditional stocks and ETFs on the same platform that they already use to invest in around 30 different cryptocurrencies. With this comes the added benefit that we mentioned yesterday that Abra is still non-custodial and therefore, only gives users the rights to all of these opportunities through smart contracts.

Perhaps even more importantly however, Abra’s pivot may help it to lead the charge for the acceptance of a regulated, crypto exchange-traded-fund.

The reason for this possibility is simple. If Abra can prove that crypto and shares of ETFs can be safely tied together in a basic sense, then perhaps investors will eventually be allowed, by their governments, to own direct shares of them. Even though Abra’s current connection with ETFs is quite indirect, it still represents an allowed, legal use case that could prove that a crypto ETF is viable.

In other words, the SEC has been dragging its’ feet and eventually rejecting every crypto ETF proposal up to now. What this indicates is that they feel something is missing in all of them, which could be a workaround, use case that demonstrates that crypto ETFs can work in existing regulatory frameworks. Therefore, in the end, it would seem that the Abra platform might represent that use case in its’ most logical form.

 

 

By: BGN Editorial Staff

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