The Block takes a look back at the key bitcoin ETF news events of 2021.Many hoped 2021 would be the year of the bitcoin exchange-traded fund , and in some ways it was.
Though the industry ultimately did not successfully advance a spot bitcoin ETF through the Securities and Exchange Commission , the US did see its first crypto ETF in the form of a futures-based product. In this piece, The Block takes a look through key events in 2021 to see where the question of SEC approval lies for 2022.The US Senate confirmed Gensler in April of this year with a final tally of 53-45 — most of the tally fell along party lines.
In between discussions of exchange regulation and the possibility that many tokens may be securities, Gensler slipped in"I anticipate that there will be filings with regard to exchange-traded funds under the Investment Company Act . When combined with the other federal securities laws, the ’40 Act provides significant investor protections," he said.
It was off to the races from this moment on, with a number of firms filing for futures-based bitcoin products.
Why people need bitcoin etf if they can buy real bitcoin on exchanges like bitfinex?
Let’s just approve something and learn as we go 😁
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