VanEck ETF Approval Hopes Hike as ‘Crypto Mom’ to Give Keynote at ETFs Global Markets Roundtable
Decision on the VanEck ETF application has been delayed several times since 2018. It has once again been rescheduled for 21 May 2019, but this time, the Cryptocurrency community is hopeful that the application may get an approval with Hester Pierce (Crypto Mom) scheduled to give the keynote at ETFs Global Markets Roundtable on May 21.
The SEC has postponed decision on VanEck and Bitwise ETF applications for the second time this year. The commission was scheduled to make known its position on the applications on 29 March but postponed it to 16 May. The date was later shifted to 21 May for the final decision according to the commission.
With the several postponements, the cryptocurrency community has grown weary and some may have given up on any bitcoin ETF approval. However, things may be different this time as the pro-crypto commissioner popularly called Crypto Mom is involved.
While the SEC has the two applications to consider, it only mentioned the VanEck application for the final decision on 21 May, a move that legal analyst Jake Chervinsky says is unusual.
“The SEC delayed the Bitwise bitcoin ETF two days ago but still hasn't made a decision on VanEck. This is unusual: the SEC would normally handle both ETFs at once.
The VanEck deadline is next Tuesday. I still think delay is overwhelmingly likely, but the timing has me curious,“ Chervinsky wrote on Twitter.
While many have wondered why the SEC has turned down approval for any ETF, Hester Pierce says it is partly due to market manipulation but an approval could be close. This may not really mean 21 May has good news on the status of the ETF application though.
A number of factors is expected to drive Bitcoin’s price to the moon, one of them is a Bitcoin ETF which will potentially attract institutional investors that will significantly drive the cryptocurrency market high. Bakkt, another trading platform for institutions is soon to be approved according to the company and when these are in place, the price of Bitcoin and other cryptocurrencies is expected to see a major boost.
May 21 is just 4 days away and it will be another day to look forward to. Will the SEC approve the VanEck ETF this time or is it another postponement we will see? What do you think about it?
Bitcoin’s price is $50,322.48 BTC/USD exchange rate today. The real-time BTC market cap of $941.49 Billion currently ranks #1 with a chart dominance at 62.37%, daily trading volume of $49.55 Billion and live coin value change of BTC -8.74 in the last 24 hours.