VanEck’s Gabor Gurbacs Compares Lack Of Bitcoin ETF Approval To Coinbase’s Shitcoin Listings


Gabor Gurbacs Pissed Off About Coinbase Listing Of ERC-20 Tokens But No Approval Of Bitcoin ETF

Gabor Gurbacs, the digital asset strategist and director at VanEck, has commented about the decision taken by Coinbase to list new tokens to its platform.

In a recent answer to a Tweet made by Matt Odell, co-host of the podcast tales from the Crypt, he said that it is not logic for Coinbase to list ‘shitcoins’ but not having a Bitcoin ETF approved as of yet.

Mr. Gurbacs is trying to push for approval of the first Bitcoin ETF in the market. It is working with the U.S. Securities and Exchange Commission (SEC) in order for this to happen. During 2018, several proposals for Bitcoin ETFs have been presented but the SEC rejected them claiming that the market was subject to manipulation from bad actors. Furthermore, the SEC does not want retail investors to have easy access to this virtual currency asset.

Coinbase has decided to start listing new tokens, including ERC-20 coins such as Decentraland (MANA) or Loom Network (LOOM). This has been highly criticized by several industry experts. Cryptocurrencies such as XRP have not been yet listed on Coinbase even when there is a large community of investors asking for it.

This crypto platform has usually been closely working with regulators in the United States and other countries. It had a very conservative stance towards adding support to new tokens, something that granted it a place among the most serious and respected businesses in the crypto environment.

Now, with a growing competitive landscape and a bear market, Coinbase decided to accelerate the pace of new coins added to the platform.

In another tweet, Mr. Gurbacs says that the current treatment of well-designed Bitcoin vehicle proposals is beyond unreasonable. The SEC is expected to give a final decision regarding the Bitcoin ETF proposal made by VanEck on February 27, 2019.

There is no final decision yet about the Bitcoin ETF presented by VanEck. It can be approved in February or it can be delayed even years to receive an approval.

A Bitcoin ETF would have very positive effects on the market. Traditional investors will have the possibility to enter the crypto market using a traditional investment tool.

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