Japan FSA Refutes News of Exploring Bitcoin ETF
But CoinTelegraph Japan got in touch with the FSA who denied that the regulatory body is looking into a Bitcoin ETF. ‘At this moment, we are not exploring an approval of ETFs based on crypto assets,’ was the short reply of the agency. The representative also remarked they knew not who the Bloomberg sources are.
Bitcoin and the Fight for an ETF
2018, will be remembered as the year cryptocurrency free-fell 80%. Due to this, investors and market participants conjured an exchange-traded fund for Bitcoin will take the bear out of the market. Various BTC ETFs are pushed by Gemini’s Winklevoss brothers and financial firms such as VanEck and SolidX, among others.
The US Securities and Exchange Commission responded to the proposals offered with rejections, reviews, and a series of delays. The VanEck/SolidX proposal, delayed twice, with the SEC setting 28 February 2019 as the date for a final decision. The Bakkt BTC ETF, delayed to January 24, 2019, might be postponed for another round. Securities lawyer Jake Chervinsky says an approval is not happening due to the ongoing, partial US government shutdown.