According to an article on Bitcoinist, the SEC is about to begin formal proceedings regarding listing the first Bitcoin exchange-traded funds (ETF) in the United States.
There is a rule that would need to be changed in order for this to happen. Section 19(b)(2)(B) of the 1934 Securities and Exchange Act.
“The Commission is instituting proceedings pursuant to Section 19(b)(2)(B) of the Act to determine whether the proposed rule change should be approved or disapproved. Institution of such proceedings is appropriate at this time in view of the legal and policy issues raised by the proposed rule change. Institution of proceedings does not indicate that the Commission has reached any conclusions with respect to any of the issues involved.”
This seems like good news. There are some very powerful people with a lot of money to invest, that want this to happen. Not to mention most of the weak handed investors from back in December have already been shaken out of the market. Institutional investors are waiting for the right entry point and that time is quickly coming upon us.
Since the recent G-20 summit, it seems regulation of the crypto space is unavoidable. Add in the growing acceptance in the business and finance community, it’s giving a lot of us all a more long-term confidence.
Personally, I’d like to see less regulation and more personal responsibility but I also understand as an investor in this space that the masses prefer security to freedom.