VanEck SolidX Bitcoin ETF Decision Day Is Coming As New SEC Commissioner Elad Roisman Gets Selected
Is a Bitcoin ETF Closer With the New SEC Appointment of Commissioner Elad Roisman?
September 30 is getting closer day after day, and a decision should be taken about the VanEck SolidX Bitcoin ETF. The U.S. Securities and Exchange Commission (SEC) decided to appoint a new commissioner called Elad Roisman. Is the space one step closer of a Bitcoin ETF approval?
Is a Bitcoin ETF Approval Closer?
Elad Roisman has been confirmed by the US Senate to the SEC. The decision has been taken in order to replace the outgoing commissioner Michael S. Piwowar. Roisman’s appointment may be very important for the cryptocurrency world. The community considers that he has a positive outlook on cryptocurrencies and that this could led to the approval of a crypto ETF in the near future.
There are currently five commissioners at the SEC. Two of them are against cryptocurrencies, two are in favor and one is yet undecided (which could be key to define whether a Bitcoin ETF is approved or not). Hester Peirce is the other commissioner that has a positive stance towards virtual currencies.
At a hearing, the new appointee commented:
“The U.S. capital markets are the envy of the world, and the importance of the SEC’s role in this cannot be overstated… To continue this, the SEC must examine and re-examine its rules, regulations, and guidelines to ensure that they are still working as intended to accomplish the SEC’s mission.”
He then said that this responsibility of the SEC is now manifested in areas such as cybersecurity, initial coin offerings (ICOs) and blockchain technology. The SEC should approach to these new challenges in a fair and transparent way in order to provide clarity and certainty to the market and investors.
One of the anti-crypto commissioners will be replaced after December 2018. The VanEck SolidX proposal of a Bitcoin ETF could be approved in February 2019. If a new commissioner positive towards virtual currencies is appointed, we could see the approval of this investment tool by February 2019.