VanEck and Bitwise will be launching Bitcoin ETFs early next month following an emergency meeting the SEC held Saturday.
In a shockingly sudden decision, the United States Securities and Exchange Commission has made the decision to approve not one, but two applications for Bitcoin-based exchange traded funds (ETFs.) Early next month, Bitcoin ETFs will be launched by Bitwise Asset Management and investment management firm VanEck.
An announcement posted just after midnight today, April 1st, explained that the SEC held an emergency meeting over the weekend to reconsider the decision following public outrage at yet another delay. According to reports, SEC Chairman Jay Clayton phoned the members of the Commission on Saturday morning to make the decision once and for all.
The cryptocurrency community’s response to the sudden approval has been mixed. Some believe that the launch of the ETFs is the cure to the bear market that has plagued the industry for months, while others believe that the ETFs are only the latest iteration of centralization on the Bitcoin network.
Clayton himself has remained publicly silent on the matter so far.
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