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One of the ongoing conversations between the SEC and investors in the crypto asset market since 2013 has been trying to get a bitcoin exchange-traded fund (ETF) approved. According to statistics, there have been more than 30 ETF applications for Bitcoin, and the US SEC has rejected all Bitcoin ETF applications.
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Among the several reasons against Bitcoin ETFs, there is a large amount of fraudulent activity and market manipulation mainly concentrated on BTC. The U.S. Securities and Exchange Commission stated that if BTC can pass the SEC application, it needs to enjoy the same regulatory agreement as the currently regulated securities market, or prove that there is no fraud and manipulation in the Bitcoin market, but so far, no applicant has been able to Successfully done to prove that the Bitcoin market is free from fraud and manipulation.
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SEC Rejects All Bitcoin ETF Applications
The SEC has published a conference report that provides a detailed analysis of Bitcoin transactions on various digital asset exchanges. According to the SEC analysis, more than 90% of the trading volume of Bitcoin in the cryptocurrency market is false, which is the result of swiping volume by intelligent robots, and there are risks of price manipulation and fraudulent transactions. SEC Chairman Jay Clayton once publicly stated: The price seen by retail investors is a reflection of the specific value of the market. It should be free to fluctuate, not be manipulated. In order to get a reliable price, it must be bought from the real The economic transaction between the home and the real seller begins.
Bitcoin ETF may usher in a turning point
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JPMorgan Chase predicts that Bitcoin ETF may usher in a turnaround
In fact, Bitcoin has been allowed to open to the public as a pilot in some financial fields, and multiple cryptocurrency portfolios of Grayscale Fund have successfully passed the application and are open to traditional investors.
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The Importance of Bitcoin ETFs
In the traditional financial field, whether it is an open-end fund or a closed-end investment portfolio, the approval of the Bitcoin ETF is of great significance to them, the most important of which are liquidity and security. The United States has the worlds most trusted and The most liquid market, as the worlds first-class financial market, the approval of the US SEC can be seen as a signal to other financial regulators around the world, which is crucial in the global decentralized Bitcoin transaction, if Bitcoin If the currency ETF can be approved for listing, investors can buy bitcoin funds on the exchange like buying other tradable funds. Bitcoin funds will be as famous as bond ETF funds, stock ETF funds, gold ETF funds, etc., as long as there are stocks The account can buy Bitcoin ETF funds. After passing the application, Bitcoin ETF will be regulated by existing financial agreements, and investors will also be protected by securities laws. will become more secure.
